Tokenization platform

ABSTRACT

In embodiments of the present invention, methods are provided for executing a smart contract that facilitates electronic transfer of non-fungible tokens to a user according to a recipe. Each respective non-fungible token may be cryptographically linked with a digital representation of a respective asset that can be won by the user. A recipe may define a respective probability that the respective non-fungible token is awarded to the user and a manner by which the respective non-fungible token is awarded to the user. A smart contract may be generated using a random number and one of the non-fungible tokens selected based on the random number and the recipe and transferred to a digital wallet of the user.

CROSS-REFERENCE TO RELATED APPLICATIONS

This application is a continuation of U.S. Non-Provisional applicationSer. No. 17/245,662, filed on Apr. 30, 2021, which is a continuation ofInternational Application No. PCT/US2019/059389, filed on Nov. 1, 2019,which claims priority to U.S. Provisional Application No. 62/906,211,filed on Sep. 26, 2019; 62/770,620, filed on Nov. 21, 2018; 62/770,624,filed on Nov. 21, 2018; and 62/754,987, filed on Nov. 2, 2018. Thedisclosures of each of the above applications are incorporated herein byreference in their entirety.

FIELD

The present disclosure relates to a platform that effectuatestransactions involving tokens that correspond to instances of linkageamong physical and/or digital items and corresponding virtualrepresentations of the physical and/or digital items.

BACKGROUND

Conventional e-Commerce processes involve unnecessary friction. Theseprocesses were typically designed around use cases in which a purchaserplaces an order knowing exactly what they want, how they are going topay for it, where it is going to go, who it is for, and that they wantit as soon as possible. Conventional e-commerce does not allow for muchflexibility in these buying decisions. For example, a user wishing topurchase a gift for someone typically makes a purchase via a website ormobile application, enters the intended recipient's known address(regardless of whether the recipient typically receives packages at theknown address), and pays for the gift. The gift is then immediately sentto the recipient, regardless of whether the recipient is available toreceive the package. Accordingly, there is a need in the art for ane-commerce platform with greater flexibility around all facets of atransaction including, but not limited to, purchase selection, payment,transfer of possession, and location and timing of delivery.

Meanwhile, virtual items have become increasingly popular, such as invideo games, where skins, weapons, tools, and many other items arepurchased and traded among players. Virtual items, like other digitalitems, can be possessed, used and transferred without the sameconstraints on transportation, delivery and storage that are involvedfor physical items. However, the value of a virtual item can beephemeral, as creators can potentially create an unlimited number ofcopies, rendering initially rare items much less valuable. A need existsfor a platform with methods and systems that provide both theflexibility and convenience of virtual item transactions and thereliability and value of physical item transactions.

SUMMARY

Provided herein is a platform that provides both the flexibility andconvenience of virtual item transactions and the reliability and valueof physical item transactions by providing a set of capabilities forstoring, transacting, transferring, exchanging, and otherwise processinga set of secure, tokenized links, where each link exists between aunique physical item and a unique instance of a virtual representationof the physical item, such that ownership and control of the virtualrepresentation corresponds to ownership and control of the physicalitem. As a result of the linkage, for example, a user can send a virtualrepresentation of an item to friend, and the friend may possess theitem, representing ownership and the right to control of the physicalitem to which the virtual item is linked. Meanwhile, the item itselfneed not be delivered until such time as the recipient wishes to takepossession of it. In some embodiments, the physical item may comprise anitem that has yet to be created, such as an item of food (e.g., a pizzafrom a specific provider) that will be made and delivered when deliveryis desired by the owner of the virtual representation that correspondsto that item (e.g., when the owner received a gift of a tokenrepresenting the pizza). A wide range of transactions in a wide range ofvirtual items that are linked to physical items are encompassed andenabled by the platform, methods and systems described herein, such asgifts that do not require immediate physical delivery, lendingtransactions where collateral can remain securely stored, transactionsin digital luxury goods, and many others.

According to some embodiments of the present disclosure, a platform andmethod for facilitating a set of transactions involving a set of itemsis disclosed. The method includes receiving one or more item attributesof the item via a first graphical user interface of a tokenizationplatform, the item attributes including a number of instances of theitem that are available for transaction by a merchant of the item. Themethod also includes generating a virtual representation of the itembased on the item attributes, wherein the virtual representation is adata structure that stores the item attributes. The method furtherincludes updating a distributed ledger to include the virtualrepresentation. The method also includes generating N tokens based onthe virtual representation, wherein N is an integer equal to the numberof items available for transaction and wherein each token is redeemableby an owner of the token in order to satisfy the transaction for theinstance of the item. The method further includes updating thedistributed ledger to include the N tokens, and for each token of the Ntokens, ownership data of the token that indicates that the token isinitially owned by the merchant of the item. The method also includesproviding a digital marketplace that provides a second graphical userinterface that allows consumers to: view visualizations of virtualrepresentations of items including the virtual representation of theitem; and transact for an instance of the item by purchasing a token ofthe N tokens.

In some embodiments, the N tokens include non-fungible tokens. Inembodiments, the N tokens include fungible tokens. In embodiments, the Ntokens are transferrable to other users. In embodiments, the item is oneof a digital good, a physical good, a digital service, a physicalservice, a digital experience, or a digital experience. In embodiments,a transaction for an instance of an item is one of a sale of theinstance of the item, a lease of the instance of the item, a gifting ofthe instance of the item, a giveaway of the instance of the item, or anyother action that affects the ownership of the item.

In some embodiments, the method further includes receiving a request totransact for the item via the digital marketplace from a user deviceassociated with a transacting consumer and facilitating a transactionfor an instance of the item. In these embodiments, facilitating thetruncation includes verifying an account of the transacting consumer;and processing a payment received from the transacting consumer. Themethod also includes updating the ownership data of one token of the Ntokens to indicate that the transacting consumer owns the one token.

According to some embodiments of the present disclosure, a method forfacilitating transactions via a tokenization platform is disclosed. Themethod includes maintaining a distributed ledger that stores: aplurality of public addresses, wherein each respective public addresscorresponds to a respective account of a respective user of thetokenization platform; a plurality of virtual representations of aplurality of respective items; and for each virtual representation, aset of tokens that respectively correspond to a respective instance ofthe item represented by the virtual representation, and ownership dataof each respective token. The method further includes providing adigital marketplace that provides a second graphical user interface thatallows consumers to: view visualizations of virtual representations ofitems including the virtual representation of the item; and transact foran instance of an item of the plurality of respective items bypurchasing a token from the set of tokens corresponding to the item. Themethod also includes receiving a request to participate in a transactionfor an instance of an item represented by a virtual representation ofthe plurality of virtual representations from a consumer user. Themethod includes updating the distributed ledger with a block thatincludes ownership data that indicates that a specific tokencorresponding to the virtual representation is owned by the transactinguser in response to verifying the request to participate in thetransaction, wherein the specific token is redeemed by an owner of thetoken in order to satisfy the transaction for the instance of the item.

In embodiments, the set of tokens corresponding to a virtualrepresentation includes non-fungible tokens. In some embodiments, theset of tokens corresponding to a virtual representation includesfungible tokens. In some embodiments, the set of tokens corresponding toa virtual representation are transferrable to other users. In someembodiments, the item is one of a digital good, a physical good, adigital service, a physical service, a digital experience, or a digitalexperience. In embodiments, a transaction for an instance of an item isone of a sale of the instance of the item, a lease of the instance ofthe item, a gifting of the instance of the item, and a giveaway of theinstance of the item.

According to some embodiments of the present disclosure, a method forfacilitating transactions via a tokenization platform is disclosed. Themethod includes maintaining a distributed ledger that stores: aplurality of public addresses, wherein each respective public addresscorresponds to a respective account of a respective user of thetokenization platform; a plurality of virtual representations of aplurality of respective items; and for each virtual representation, aset of tokens that respectively correspond to a respective instance ofthe item represented by the virtual representation, and ownership dataof each respective token. The method further includes providing adigital marketplace that provides a second graphical user interface thatallows consumers to: view visualizations of virtual representations ofitems including the virtual representation of the item; and transact foran instance of an item of the plurality of respective items bypurchasing a token from the set of tokens corresponding to the item. Themethod also includes receiving a request to participate in a transactionfor an instance of an item represented by a virtual representation ofthe plurality of virtual representations from a consumer user. Themethod includes updating the distributed ledger with a block thatincludes ownership data that indicates that a specific tokencorresponding to the virtual representation is owned by the transactinguser in response to verifying the request to participate in thetransaction, wherein the specific token is redeemed by an owner of thetoken in order to satisfy the transaction for the instance of the item.The method further includes receiving a transfer request to transfer thespecific token to a different user, wherein the transfer requestincludes a token identifier that identifies the specific token and apublic address of the different user and validating the specific tokenbased on the token identifier and the distributed ledger. The methodfurther includes verifying that the different user has a valid accounton the tokenization platform based on the public address of the user andthe distributed ledger. Furthermore, in response to validating thespecific token and verifying the different user, the method includesupdating the distributed ledger with a block that includes ownershipdata that indicates that a specific token corresponding to the virtualrepresentation is owned by the transacting user. The method alsoincludes receiving a redemption request to redeem the token from a userdevice of the different user. Additionally, in response to receiving theredemption request, the method further includes executing a workflow tosatisfy the transaction for instance of the item corresponding to thetoken.

In embodiments, the set of tokens corresponding to a virtualrepresentation includes non-fungible tokens. In some embodiments, theset of tokens corresponding to a virtual representation includesfungible tokens. In some embodiments, the set of tokens corresponding toa virtual representation are transferrable to other users. In someembodiments, the item is one of a digital good, a physical good, adigital service, a physical service, a digital experience, or a digitalexperience. In embodiments, a transaction for an instance of an item isone of a sale of the instance of the item, a lease of the instance ofthe item, a gifting of the instance of the item, and a giveaway of theinstance of the item.

According to some embodiments of the present disclosure, a method isdisclosed. The method includes displaying a digital wallet graphicaluser interface via a user device of a user associated with the digitalwallet. The method further includes displaying, by the digital walletgraphical user interface, an inventory of tokens that are owned by theuser, wherein each token corresponds to a respective item and whereineach token is redeemable by user to satisfy a transaction for aninstance of the respective item. The method also includes receiving, bythe digital wallet graphical user interface, an instruction to transfera token from the inventory of tokens to a recipient. The method alsoincludes displaying, by the digital wallet graphical user interface, adigital keyboard, wherein the digital keyboard includes a selectablemedia content that is representative of the respective item thatcorresponds to the token to be transferred. The method also includesreceiving, by the digital keyboard, a text-based message including aselection of the selectable media content. The method also includesembedding, by the digital keyboard, the token in the text-based message,wherein the token is embedded in the selectable media content. Themethod further includes transmitting, by the digital wallet, thetext-based message having the token embedded therein to a messageaccount of the recipient, wherein the recipient can select theselectable media content to accept to the token into a respectivedigital wallet of the recipient.

In embodiments, the set of tokens corresponding to a virtualrepresentation includes non-fungible tokens. In embodiments, the set oftokens corresponding to a virtual representation includes fungibletokens. In embodiments, the set of tokens corresponding to a virtualrepresentation are transferrable to other users. In embodiments, theitem is one of a digital good, a physical good, a digital service, aphysical service, a digital experience, or a digital experience. Inembodiments, the transaction for an instance of an item is one of a saleof the instance of the item, a lease of the instance of the item, agifting of the instance of the item, and a giveaway of the instance ofthe item. In embodiments, the selectable media content is an emojihaving the token associated therewith. In some of these embodiments, thetoken is embedded in the emoji. In some of these embodiments, theselectable media content includes a deep link where a recipient of theselectable media content can select the selectable media content toaccept the token. In embodiments, the selectable media content is one ofan image, a .gif, or a video.

According to some embodiments of the present disclosure, a method forfacilitating transactions via a tokenization platform is disclosed. Themethod includes maintaining a distributed ledger that stores a pluralityof public addresses, wherein each respective public address correspondsto a respective account of a respective user of the tokenizationplatform. The distributed ledger further stores a plurality of virtualrepresentations of a plurality of respective items, wherein each virtualrepresentation includes virtual reality content to render a virtualreality visualization of the respective item, and for each virtualrepresentation, a set of tokens that respectively correspond to arespective instance of the item represented by the virtualrepresentation, and ownership data of each respective token. The methodalso includes rendering a virtual reality store environment, wherein thevirtual reality store environment provides an interface that allowsusers to view virtual reality visualizations of available items that areavailable for transaction and to transact for instances of the availableitems. The method further includes rendering a virtual realityvisualization of an item represented by a virtual representation of theplurality of virtual representations based on the virtual realitycontent in in the virtual representation, wherein the virtual realityvisualization of the item is presented in the virtual reality storeenvironment. The method also includes receiving a request to participatein a transaction for an instance of the item represented by the virtualreality representation of the item from a user device of a transactinguser, wherein the request to participate in the transaction is receivedin response to the transacting user viewing the virtual realityrepresentation of the item in the virtual reality store environment. Themethod also includes, in response to verifying the request toparticipate in the transaction, associating a specific tokencorresponding to the virtual representation with an account of thetransacting user in the distributed ledger.

In embodiments, the method also includes receiving a transfer request totransfer the specific token to a different user, wherein the transferrequest includes a token identifier that identifies the specific tokenand a public address of the different user. In these embodiments, themethod further includes validating the specific token based on the tokenidentifier and the distributed ledger, verifying that the different userhas a valid account on the tokenization platform based on the publicaddress of the user and the distributed ledger, and in response tovalidating the specific token and verifying the different user, updatingthe distributed ledger with a block that includes ownership data thatindicates that a specific token corresponding to the virtualrepresentation is owned by the transacting user. In some of theseembodiments, the method further includes receiving a redemption requestto redeem the token from a user device of the different user, and inresponse to receiving the redemption request, executing a workflow tosatisfy the transaction for instance of the item corresponding to thetoken.

In embodiments, the set of tokens corresponding to a virtualrepresentation includes non-fungible tokens. In embodiments, the set oftokens corresponding to a virtual representation includes fungibletokens. In embodiments, the set of tokens corresponding to a virtualrepresentation are transferrable to other users. In embodiments, theitem is one of a digital good, a physical good, a digital service, aphysical service, a digital experience, or a digital experience. Inembodiments, a transaction for an instance of an item is one of a saleof the instance of the item, a lease of the instance of the item, agifting of the instance of the item, and a giveaway of the instance ofthe item.

According to some embodiments of the present disclosure, a method forfacilitating transactions via a tokenization platform is disclosed. Themethod includes maintaining a distributed ledger that stores a pluralityof public addresses, wherein each respective public address correspondsto a respective account of a respective user of the tokenizationplatform. The distributed ledger further stores a plurality of virtualrepresentations of a plurality of respective items, wherein each virtualrepresentation includes virtual reality content to render a virtualreality visualization of the respective item, and for each virtualrepresentation, a set of tokens that respectively correspond to arespective instance of the item represented by the virtualrepresentation, and ownership data of each respective token. The methodfurther includes receiving a redemption request to redeem a token from auser device of a user, the token corresponding to an instance of an itemto be redeemed. The method also includes, in response to receiving theredemption request, verifying that the user is the owner of the tokenbased on the distributed ledger and the redemption request. The methodfurther includes, in response to verifying that the user is the owner ofthe token, requesting delivery details pertaining to the item from theuser. The method further includes receiving the delivery details fromthe user device of the user and, in response to receiving the deliverydetails form the user device, outputting the delivery details to adelivery system that facilitates delivery of the item.

In embodiments, requesting the delivery details pertaining to the itemincludes requesting a current location of the user. In some of theseembodiments, the item being redeemed is one of a food item or a rideshare. In some of these embodiments, the user device provides ageolocation of the user device. Additionally, or alternatively, the userdevice provides an address provided by the user.

In embodiments, the item being redeemed is a tangible good. In some ofthese embodiments, the delivery details include a current geolocation ofthe user device captured by the user device. In some of theseembodiments, the delivery details include a current address of the userprovided to the user device by the user via a graphical user interfaceof the user device.

In embodiments, the set of tokens corresponding to a virtualrepresentation are transferrable to other users. In embodiments, atransaction for an instance of an item is one of a sale of the instanceof the item, a lease of the instance of the item, a gifting of theinstance of the item, and a giveaway of the instance of the item.

According to some embodiments of the present disclosure, a method forfacilitating transactions via a tokenization platform is disclosed. Themethod includes maintaining a distributed ledger that stores a pluralityof public addresses, wherein each respective public address correspondsto a respective account of a respective user of the tokenizationplatform. The distributed ledger further stores a plurality of virtualrepresentations of a plurality of respective items, wherein each virtualrepresentation includes virtual reality content to render a virtualreality visualization of the respective item, and for each virtualrepresentation, a set of tokens that respectively correspond to arespective instance of the item represented by the virtualrepresentation, and ownership data of each respective token. The methodalso includes receiving a redemption request to redeem a token from auser device of a user, the token corresponding to an instance of an itemto be redeemed. The method further includes, in response to receivingthe redemption request, verifying that the user is the owner of thetoken based on the distributed ledger and the redemption request. Themethod also includes, in response to verifying that the user is theowner of the token, requesting fulfilment details pertaining to the itemfrom the user, wherein the fulfilment details include information neededto satisfy the transaction for the item that were not provided at a timewhen the token was transacted for. The method also includes receivingthe fulfilment details from the user device of the user and, in responseto receiving the delivery details form the user device, outputting thefulfilment details to a fulfilment system that satisfies transactionsfor items.

In embodiments, the item is an article of clothing. In some of theseembodiments, requesting the fulfilment details pertaining to the itemincludes requesting a size of the item. In some of these embodiments,requesting the fulfilment details pertaining to the item includesrequesting a color of the item. In some of these embodiments, requestingthe fulfilment details pertaining to the item includes requesting adelivery date of the item.

In embodiments, the set of tokens corresponding to a virtualrepresentation includes non-fungible tokens. In embodiments, the set oftokens corresponding to a virtual representation includes fungibletokens. In embodiments, the set of tokens corresponding to a virtualrepresentation are transferrable to other users. In embodiments, theitem is one of a digital good, a physical good, a digital service, aphysical service, a digital experience, or a digital experience. Inembodiments, a transaction for an instance of an item is one of a saleof the instance of the item, a lease of the instance of the item, agifting of the instance of the item, and a giveaway of the instance ofthe item.

According to some embodiments of the present disclosure, a method forfacilitating transactions via a tokenization platform is disclosed. Themethod includes maintaining a distributed ledger that includes a mainchain of blocks and a first side chain of blocks. The main chain ofblocks collectively store information relating to plurality of users,including item providers and consumers, wherein the information relatingto the plurality of users includes a plurality of public addresses,wherein each respective public address corresponds to a respectiveaccount of a respective user of the tokenization platform. The firstside chain of blocks collectively store: a plurality of virtualrepresentations of a plurality of respective items, wherein each virtualrepresentation includes virtual reality content to render a virtualreality visualization of the respective item; and for each virtualrepresentation, a set of tokens that respectively correspond to arespective instance of the item represented by the virtualrepresentation, and ownership data of each respective token. The methodalso includes receiving a request to participate in a transaction for aninstance of an item represented by a virtual representation of theplurality of virtual representations from a user device of a transactinguser. The method further includes, in response to verifying the requestto participate in the transaction, updating ownership data of a specifictoken corresponding to the virtual representation in the first sidechain of blocks to indicate that the transacting user owns the specifictoken.

According to some embodiments, the method further includes receiving aredemption request to redeem the specific token from a user device ofthe transacting user, and verifying that the transacting user is theowner of the specific token based on the first side chain of blocks andthe redemption request. The method also includes, in response toverifying the transacting user is the owner of the specific token,executing a workflow to satisfy the transaction for instance of the itemcorresponding to the token.

According to some embodiments, the method further includes receiving atransfer request to transfer the specific token to a different user,wherein the transfer request includes a token identifier that identifiesthe specific token and a public address of the different user. In theseembodiments, the method further includes validating the specific tokenbased on the token identifier and the first chain of block and verifyingthat the different user has a valid account on the tokenization platformbased on the public address of the user and the main chain of blocks.The method further includes, in response to validating the specifictoken and verifying the different user, updating the second chain ofblocks with a new block that includes ownership data that indicates thatthe specific token corresponding to the virtual representation is ownedby the different user. In some of these embodiments, the method furtherincludes receiving a redemption request to redeem the token from a userdevice of the different user; verifying that the different user is theowner of the specific token based on the first side chain of blocks andthe redemption request; and in response to verifying the different useris the owner of the specific token, executing a workflow to satisfy thetransaction for instance of the item corresponding to the token.

According to some embodiments, the distributed ledger further includes asecond side chain of blocks that collectively store one or morerespective media contents relating to respective virtual representationsof the plurality of virtual representations. In some of theseembodiments, the one or more respective media contents include an imageof a respective item represented by a respective virtual representation.In some of these embodiments, the one or more respective media contentsinclude a video of a respective item represented by a respective virtualrepresentation. In some of these embodiments, the one or more respectivemedia contents include virtual reality content depicting a respectiveitem represented by a respective virtual representation.

In embodiments, the set of tokens corresponding to a virtualrepresentation includes non-fungible tokens. In embodiments, the set oftokens corresponding to a virtual representation includes fungibletokens. In embodiments, the set of tokens corresponding to a virtualrepresentation are transferrable to other users. In embodiments, theitem is one of a digital good, a physical good, a digital service, aphysical service, a digital experience, or a digital experience. Inembodiments, a transaction for an instance of an item is one of a saleof the instance of the item, a lease of the instance of the item, agifting of the instance of the item, and a giveaway of the instance ofthe item.

According to some embodiments of the present disclosure, a method forfacilitating transactions via a tokenization platform is disclosed. Themethod includes maintaining a distributed ledger that includes a mainchain of blocks and a first side chain of blocks. The main chain ofblocks collectively store information relating to plurality of users,including item providers and consumers, wherein the information relatingto the plurality of users includes a plurality of public addresses,wherein each respective public address corresponds to a respectiveaccount of a respective user of the tokenization platform. The firstside chain of blocks collectively store: a plurality of virtualrepresentations of a plurality of respective items, wherein each virtualrepresentation includes virtual reality content to render a virtualreality visualization of the respective item; and for each virtualrepresentation, a set of tokens that respectively correspond to arespective instance of the item represented by the virtualrepresentation, and ownership data of each respective token. The methodalso includes receiving a transfer request to transfer the specifictoken from an owner of the specific token to a different user, whereinthe transfer request includes a token identifier that identifies thespecific token and a public address of the different user. The methodalso includes validating the specific token based on the tokenidentifier and the first chain of blocks and verifying that thedifferent user has a valid account on the tokenization platform based onthe public address of the user and the main chain of blocks. The methodalso includes, in response to validating the specific token andverifying the different user, updating the second chain of blocks with anew block that includes ownership data that indicates that the specifictoken corresponding to the virtual representation is owned by thedifferent user.

According to some embodiments, the method further includes receiving aredemption request to redeem the token from a user device of thedifferent user and verifying that the different user is the owner of thespecific token based on the new block in the first side chain of blocksand the redemption request. In these embodiments, the method furtherincludes, in response to verifying the different user is the owner ofthe specific token, executing a workflow to satisfy the transaction forinstance of the item corresponding to the token.

According to some embodiments of the present disclosure, a method forfacilitating transactions via a tokenization platform is disclosed. Themethod includes maintaining a distributed ledger that includes a mainchain of blocks and a first side chain of blocks. The main chain ofblocks collectively store information relating to plurality of users,including item providers and consumers, wherein the information relatingto the plurality of users includes a plurality of public addresses,wherein each respective public address corresponds to a respectiveaccount of a respective user of the tokenization platform. The firstside chain of blocks collectively store: a plurality of virtualrepresentations of a plurality of respective items, wherein each virtualrepresentation includes virtual reality content to render a virtualreality visualization of the respective item; and for each virtualrepresentation, a set of tokens that respectively correspond to arespective instance of the item represented by the virtualrepresentation, and ownership data of each respective token.

According to some embodiments of the present disclosure, a method forgenerating a digital token that uniquely represents an item includesobtaining, by a processing system of a tokenization platform, a uniqueidentifier for a unique unit of the item, generating, by a cryptographictoken generation system, a unique digital token includes a set ofdigital attributes that correspond to the set of item attributes, andcryptographically linking, by a linking system, the unique digital tokenand the unique identifier for the unique unit of the item such that theunique digital token provides a unique digital representation of theunique unit of the item. The item includes a set of item attributes.

In embodiments, the item is a real-world object.

In embodiments, the real-world object is a consumer product, a uniqueinstance of a digital item, or a gift card.

In embodiments, the set of digital attributes of the gift card include amerchant with which the gift card is redeemable.

In embodiments, the set of digital attributes of the gift card include aredeemable value.

In embodiments, the item is already in existence.

In embodiments, the unique digital token is redeemable for fulfillmentof the unit of the consumer product.

In embodiments, the item has a defined type and a defined set ofcharacteristics but is not yet in existence.

In embodiments, the unique digital token is redeemable for a right topossess the item.

In embodiments, possession of the unique digital token representsownership of the item.

In embodiments, the item is a gift card and the unique digital tokenrepresents a right to redeem the gift card.

In embodiments, the unique digital token is transferable.

In embodiments, transfer of the unique digital token is executable bysending the unique digital token in a messaging interface.

In embodiments, transfer of the unique digital token is executable bysending the unique digital token in an email interface.

In embodiments, the set of item attributes includes a set of physicalattributes.

In embodiments, set of the item attributes includes a set of originationattributes.

In embodiments, the set of origination attributes includeslimited-edition attributes, celebrity-signature attributes,certification of originality attributes, location of origin attributes,certification of ethical production attributes, or creator attributes.

In embodiments, the set of digital attributes of the unique digitaltoken includes a data structure that represents the set of itemattributes.

In embodiments, the set of digital attributes of the unique digitaltoken includes a data structure that supports a visual representation ofthe item.

In embodiments, the set of digital attributes of the unique digitaltoken includes a data structure that represents an animation of theitem.

In embodiments, the set of digital attributes of the unique digitaltoken includes an image of the item.

According to some embodiments of the present disclosure, a system forgenerating a digital token that uniquely represents a real-world object,includes an interface configured to handle a unique identifier for aunique unit of a real-world object, a cryptographic token generationsystem that generates a unique digital token that has a set of digitalattributes that correspond to the set of real-world object attributes,wherein the unique digital token is cryptographically secure, and acryptographic linking system configured to generate a cryptographicallysecure, one-to-at-least-one link between the unique digital tokengenerated by the cryptographic token generation system and the uniqueidentifier for the unique unit of the real-world object, such that theunique digital token provides a unique digital representation of theunique unit of the real-world object. The real-world object has a set ofreal-world-object attributes.

In embodiments, the real-world object is a consumer product.

In embodiments, the real-world object is a unique instance of a digitalitem.

In embodiments, the real-world object is a gift card.

In embodiments, the real-world object is already in existence

In embodiments, the real-world object has a defined type and a definedset of characteristics but is not yet in existence.

In embodiments, the unique digital token is redeemable for a right topossess the real-world object.

In embodiments, possession of the unique digital token representsownership of the real-world object.

In embodiments, the unique digital token is transferable.

In embodiments, the set of real-world-object attributes includes a setof physical attributes.

In embodiments, the set of real-world-object attributes a set oforigination attributes.

In embodiments, the set of origination attributes includes limitededition attributes.

In embodiments, the set of origination attributes includes celebritysignature attributes.

In embodiments, the set of origination attributes includes certificationof originality attributes.

In embodiments, the set of origination attributes includes location oforigin attributes.

In embodiments, the set of origination attributes includes certificationof ethical production attributes.

In embodiments, the set of digital attributes of the unique digitaltoken includes a data structure that represents the physical attributesof the real-world object.

In embodiments, the set of digital attributes of the unique digitaltoken includes a data structure that supports a visual representation ofthe real-world object.

In embodiments, the set of digital attributes of the unique digitaltoken includes an image of the real-world object.

In embodiments, the set of digital attributes of the unique digitaltoken includes a data structure that represents an animation of thereal-world object.

According to some embodiments of the present disclosure, a system forgenerating a digital token that uniquely represents a unique unit of aconsumer product, includes an interface configured to handle a uniqueidentifier for a unique unit of a consumer product, a cryptographictoken generation system that generates a unique digital token that has aset of digital attributes that corresponds to the set ofconsumer-product attributes, wherein the unique digital token iscryptographically secure, and a linking system configured to generate aone-to-at-least-one link between the unique digital token generated bythe cryptographic token generation system and the unique identifier forthe unique unit of the consumer product, such that the unique digitaltoken provides a unique digital representation of the unique unit of theconsumer product. The consumer product has a set of consumer-productattributes.

In embodiments, the set of consumer-product attributes includes a set ofphysical attributes.

In embodiments, the set of consumer-product attributes includes a set oforigination attributes.

In embodiments, the set of origination attributes includes limitededition attributes.

In embodiments, the set of origination attributes of the consumerproduct include celebrity signature attributes.

In embodiments, the set of origination attributes includes certificationof originality attributes.

In embodiments, the set of origination attributes includes location oforigin attributes.

In embodiments, the set of origination attributes includes certificationof ethical production attributes.

In embodiments, the set of digital attributes of the unique digitaltoken includes a data structure that represents the physical attributesof the consumer product.

In embodiments, the set of digital attributes of the unique digitaltoken includes a data structure that supports a visual representation ofthe consumer product.

In embodiments, the set of digital attributes of the unique digitaltoken includes an image of the consumer product.

In embodiments, the set of digital attributes of the unique digitaltoken includes a data structure that represents an animation of theconsumer product.

In embodiments, the consumer product is already in existence.

In embodiments, the unique digital token is redeemable for fulfillmentof the unit of the consumer product.

In embodiments, the consumer product has a defined type and a definedset of characteristics but is not yet in existence.

In embodiments, the unique digital token is redeemable for fulfillmentof creation and delivery of the unit of the consumer product.

According to some embodiments of the present disclosure, a system forgenerating a digital token that uniquely represents a unique unit of adigital product includes an interface configured to handle a uniqueidentifier for a unique unit of a digital product, a cryptographic tokengeneration system that generates a unique digital token that has a setof token attributes that correspond to the set of digital-productattributes, wherein the unique digital token is cryptographicallysecure, and a linking system configured to generate aone-to-at-least-one link between the unique digital token generated bythe cryptographic token generation system and the unique identifier forthe unique unit of the digital product, such that the unique digitaltoken provides a unique digital representation of the unique unit of thedigital product. The digital product has a set of attributes.

In embodiments, the set of digital-product attributes includes a set oforigination attributes.

In embodiments, the set of origination attributes includes limitededition attributes.

In embodiments, the set of origination attributes includes creatorattributes.

In embodiments, the set of origination attributes includes certificationof originality attributes.

In embodiments, the set of origination attributes includes location oforigin attributes.

In embodiments, the set of digital attributes of the unique digitaltoken includes a data structure that represents the attributes of thedigital product.

In embodiments, the set of digital attributes of the unique digitaltoken includes a data structure that supports a visual representation ofthe digital product.

In embodiments, the set of digital attributes of the unique digitaltoken includes an image of the digital product.

In embodiments, the set of digital attributes of the unique digitaltoken includes a data structure that represents an animation of thedigital product.

In embodiments, the digital product is already in existence.

In embodiments, the unique digital token is redeemable for fulfillmentof the unit of the digital product.

In embodiments, the digital product has a defined type and a defined setof characteristics but is not yet in existence.

In embodiments, the unique digital token is redeemable for fulfillmentof creation and delivery of the unit of the digital product.

According to some embodiments of the present disclosure, a system forgenerating a digital token that uniquely represents a unique unit of agift card, includes an interface configured to handle a uniqueidentifier for a unique unit of a gift card, a cryptographic tokengeneration system that generates a unique digital token that has a setof token attributes that correspond to the set of gift card attributes,wherein the unique digital token is cryptographically secure, and alinking system configured to generate a cryptographically secure,one-to-at-least-one link between the unique digital token generated bythe cryptographic token generation system and the unique identifier forthe unique unit of the gift card, such that the cryptographically securedigital token provides a unique digital representation of the uniqueunit of the gift card. The gift card has a set of gift-card attributes.

In embodiments, the set of gift-card attributes includes a merchant withwhich the gift card is redeemable.

In embodiments, the set of gift-card attributes includes a redeemablevalue.

In embodiments, the unique digital token represents the right to redeemthe gift card and is transferable.

In embodiments, the transfer of the unique digital token is executableby sending the unique digital token in a chat interface.

In embodiments, the transfer of the unique digital token is executableby sending the unique digital token in an email interface.

In embodiments, the set of digital attributes of the unique digitaltoken includes a data structure that represents the gift-cardattributes.

In embodiments, the set of digital attributes of the unique digitaltoken includes a data structure that supports a visual representation ofthe gift card.

In embodiments, the set of digital attributes of the unique digitaltoken includes an image of the gift card.

In embodiments, the gift card is already in existence.

In embodiments, the unique digital token is redeemable for fulfillmentof the unit of the gift card.

In embodiments, the gift card has a defined type and a defined set ofcharacteristics but is not yet in existence.

In embodiments, the unique digital token is redeemable for fulfillmentof creation and delivery of the unit of the gift card.

According to some embodiments of the present disclosure, a methodincludes receiving, by a processing system of a tokenization platform, anotification of a transfer of funds to a user account of a user, thefunds is in a first currency and the tokenization platform facilitatingtrade in a second currency defined in accordance with a protocol,receiving, by the processing system of the tokenization platform,request to generate a tokenized token representing a portion of thefunds, generating, by the processing system, the tokenized token thatrepresents the portion of the funds, initiating, by the processingsystem, a hold of the portion of the funds, wherein the portion of thefunds are inaccessible to an owner of the tokenized token until thetokenized token is redeemed by the owner of the tokenized token, andupdating, by the processing system, a ledger to indicate that thetokenized token is owned by the user. The tokenized token is defined inaccordance with the protocol.

In embodiments, the visual indicia depict an amount of currencycorresponding to the portion of the funds.

In embodiments, the funds are in a traditional currency and transferredto the account of the user via a credit card or bank transfer.

In embodiments, the funds are in a cryptocurrency and transferred infrom an external cryptocurrency account of the user.

In embodiments, the initiating the hold of the portion of the fundsincludes transferring the portion of the funds from the account of theuser into an escrow account.

In embodiments, the portion of the funds remain in the escrow accountuntil the tokenized token is redeemed by the owner of the tokenizedtoken.

In embodiments, in response to the tokenized token is redeemed. Thetokenized token is invalidated.

In embodiments, the ledger is a distributed ledger.

In embodiments, the second digital token is redeemable for a definedquantity of the first digital token.

In embodiments, the first digital token is a fungible token.

In embodiments, the first digital token is a non-fungible token.

In embodiments, the first digital token is a cryptocurrency coin.

In embodiments, the first digital token is a digital ticket to an event.

In embodiments, the first digital token is a gift card.

In embodiments, the first digital token is a gift certificate.

In embodiments, the first digital token is a digital representation of asecurity.

In embodiments, the first digital token is an access token to a securelocation.

In embodiments, the linking system uses a blockchain.

In embodiments, ownership of the second digital token is recorded in anownership record system.

In embodiments, the ownership record system uses a distributed ledger.

In embodiments, the second digital token is exchangeable among accountsvia a user interface of the system.

According to some embodiments of the present disclosure, a system fortokenizing a token, includes an interface configured to handle a uniqueidentifier for a first digital token, wherein the first digital token isassociated with a cryptocurrency, a cryptographic token generationsystem that generates a second digital token that represents a definedquantity of the cryptocurrency represented by the first digital token,wherein the second digital token is unique and cryptographically secure,a linking system configured to generate a one-to-at-least-one linkbetween the second digital token generated by the cryptographic tokengeneration system and the first digital token, such that the seconddigital token provides a unique digital tokenization of the firstdigital token, wherein the one-to-at-least-one link is cryptographicallysecure, and an exchange system for exchange of the second digital tokenvia integration with a messaging system, wherein upon a user sending amessage includes an embedded media content of the second digital tokenthat represents the defined quantity of the cryptocurrency to arecipient, the system automatically transfers the defined amount of thecryptocurrency from an account of the user to an account of therecipient of the message.

In embodiments, the second digital token is redeemable for a definedquantity of the first digital token.

In embodiments, the first digital token is a fungible token.

In embodiments, the first digital token is a non-fungible token.

In embodiments, the messaging system is a short message service.

In embodiments, the messaging system is a chat message system.

In embodiments, the messaging system is an email system.

In embodiments, the messaging system is integrated in a socialnetworking site.

In embodiments, the messaging system is integrated with a digital walletsuch that the digital wallet is updated upon exchange of the seconddigital token without requiring the user to interact with a userinterface of the digital wallet.

In embodiments, the linking system uses a blockchain.

In embodiments, ownership of the second digital token is recorded in anownership record system.

In embodiments, the ownership record system uses a distributed ledger.

In embodiments, the second digital token is exchangeable among accountsvia a user interface of the system.

According to some embodiments of the present disclosure, a system fortokenizing a token, includes an interface configured to handle a uniqueidentifier for a first digital token, wherein the first digital token isassociated with a cryptocurrency, a cryptographic token generationsystem that generates a second digital token that represents a definedquantity of the cryptocurrency represented by the first digital token,wherein the second digital token is unique and cryptographically secure,a linking system configured to generate a one-to-at-least-one linkbetween the second digital token generated by the cryptographic tokengeneration system and the first digital token, such that the seconddigital token provides a unique digital tokenization of the firstdigital token, wherein the one-to-at-least-one link is cryptographicallysecure, and a digital wallet-less system that automatically enables theexchange of the cryptocurrency from a first account of a first user to asecond account of a second user upon transfer of the second digitaltoken from the first account to the second account.

In embodiments, the second digital token is redeemable for a definedquantity of the first digital token.

In embodiments, the digital wallet-less system enables the exchange ofthe cryptocurrency upon parsing of a coded message.

In embodiments, the digital wallet-less system enables the exchange ofthe cryptocurrency upon recognition of a movement of the second digitaltoken in a user interface.

In embodiments, the linking system uses a blockchain.

In embodiments, ownership of the second digital token is recorded in anownership record system.

In embodiments, the ownership record system uses a distributed ledger.

In embodiments, the second digital token is exchangeable among accountsvia a user interface of the system.

In embodiments, the digital wallet-less system is integrated with amessaging system.

In embodiments, the messaging system is a short message service.

In embodiments, the messaging system is a chat message system.

In embodiments, the messaging system is an email system.

In embodiments, the messaging system is integrated in a socialnetworking site.

In embodiments, the messaging system provides a signal to a digitalwallet such that the digital wallet is updated upon exchange of thesecond digital token without requiring the user to interact with a userinterface of the digital wallet.

In embodiments, the first account is associated with a firstcryptographic key. The second account is associated with a secondcryptographic key. the second cryptographic key is different from thefirst cryptographic key, and the digital wallet-less system exchangesthe cryptocurrency using a set of workflows that omits interaction ofboth the first user and the second user with a cryptographic key.

According to some embodiments of the present disclosure, a system fortokenizing a token, includes an interface configured to handle a uniqueidentifier for a first digital token, wherein the first digital token isassociated with a cryptocurrency, a cryptographic token generationsystem that generates a second digital token that represents a definedquantity of the cryptocurrency represented by the first digital token,wherein the second digital token is unique and cryptographically secure,a linking system configured to generate a one-to-at-least-one linkbetween the second digital token generated by the cryptographic tokengeneration system and the first digital token, such that the seconddigital token provides a unique digital tokenization of the firstdigital token, wherein the one-to-at-least-one link is cryptographicallysecure, and a transfer system that enables transfer of the definedquantity of the cryptocurrency embodied by the first digital token inthe amount represented by the second digital token among user accountsusing a set of workflows that omits interaction of users with acryptographic key.

In embodiments, the second digital token is redeemable for a definedquantity of the first digital token.

In embodiments, the transfer system enables transfer upon parsing of acoded message.

In embodiments, the transfer system enables transfer upon recognition ofa movement of the second digital token in a user interface.

In embodiments, the linking system uses a blockchain.

In embodiments, ownership of the second digital token is recorded in anownership record system.

In embodiments, the ownership record system uses a distributed ledger.

In embodiments, the second digital token is exchangeable among accountsvia a user interface of the system.

In embodiments, the transfer system is integrated with a messagingsystem.

In embodiments, the messaging system is a short message service.

In embodiments, the messaging system is a chat message system.

In embodiments, the messaging system is an email system.

In embodiments, the messaging system is integrated in a socialnetworking site.

In embodiments, the messaging system provides a signal to a digitalwallet such that the digital wallet is updated upon exchange of thesecond digital token without requiring the user to interact with theuser interface of the digital wallet.

According to some embodiments of the present disclosure, a system fortokenizing a token, includes an interface configured to handle a uniqueidentifier for a first digital token, wherein the first digital token isa cryptocurrency, a cryptographic token generation system that generatesa second digital token that represents a defined quantity of thecryptocurrency represented by the first digital token, wherein thesecond digital token is unique and cryptographically secure, a linkingsystem configured to generate a one-to-at-least-one link between thesecond digital token generated by the cryptographic token generationsystem and the first digital token, such that the second digital tokenprovides a unique digital tokenization of the first digital token,wherein the one-to-at-least-one link is cryptographically secure, and atransfer system that enables an exchange of control of a quantity of thefirst digital token using a workflow that omits interaction by userswith a cryptography system.

In embodiments, the second digital token is redeemable for a definedquantity of the first digital token.

In embodiments, the transfer system executes an exchange upon parsing ofa code in a message from a party that controls the second digital token.

In embodiments, the exchange system executes an exchange uponrecognition of a movement of the second digital token in a userinterface.

In embodiments, the exchange of control results in transfer ofownership.

In embodiments, the exchange of control results in movement of a recordof the second digital token from one account to another account.

In embodiments, the first digital token is a fungible token.

In embodiments, the first digital token is a non-fungible token.

In embodiments, the first digital token is a cryptocurrency coin.

In embodiments, the first digital token is a digital ticket to an event.

In embodiments, the first digital token is a gift card.

In embodiments, the first digital token is a gift certificate.

In embodiments, the first digital token is a digital representation of asecurity.

In embodiments, the first digital token is an access token to a securelocation.

In embodiments, the linking system uses a blockchain.

In embodiments, ownership of the second digital token is recorded in anownership record system.

In embodiments, the ownership record system uses a distributed ledger.

In embodiments, the second digital token is exchangeable among accountsvia a user interface of the system.

In embodiments, the transfer system is integrated with a messagingsystem.

In embodiments, the messaging system is a short message service.

In embodiments, the messaging system is a chat message system.

In embodiments, the messaging system is an email system.

In embodiments, the messaging system is integrated in a socialnetworking site.

In embodiments, the messaging system provides a signal to a digitalwallet such that the digital wallet is updated upon exchange of thesecond digital token without requiring the user to interact with theuser interface of the digital wallet.

In embodiments, the transfer system executes the exchange upon parsingof a code in a message from a party that controls the second digitaltoken.

In embodiments, the system executes the exchange upon recognition of amovement of the second digital token in a user interface.

According to some embodiments of the present disclosure, a method forfacilitating a transaction of an item, includes receiving one or moreitem attributes of the item via a first graphical user interface of atokenization platform, the item attributes includes a number ofinstances of the item that are available for transaction by a merchantof the item, generating a virtual representation of the item based onthe item attributes, wherein the virtual representation is a datastructure that stores the item attributes, and generating N digitaltokens based on the virtual representation, wherein N is an integerequal to the number of items available for transaction and wherein eachdigital token is redeemable by an owner of the respective digital tokento satisfy the transaction for an instance of the item.

In embodiments, the N digital tokens include non-fungible tokens.

In embodiments, the N digital tokens include fungible tokens.

In embodiments, the N digital tokens are transferrable to other users.

In embodiments, the item is one of a digital good, a physical good, adigital service, a physical service, a digital experience, or a digitalexperience.

In embodiments, a transaction for an instance of an item is at least oneof a sale of the instance of the item, a lease of the instance of theitem, a gifting of the instance of the item, and a giveaway of theinstance of the item.

In embodiments, the set of tokens corresponding to a virtualrepresentation includes non-fungible tokens.

In embodiments, the set of tokens corresponding to a virtualrepresentation includes fungible tokens.

In embodiments, the set of tokens corresponding to a virtualrepresentation are transferrable to other users.

In embodiments, the item is one of a digital good, a physical good, adigital service, a physical service, a digital experience, or a digitalexperience.

In embodiments, a transaction for an instance of an item is one of asale of the instance of the item, a lease of the instance of the item, agifting of the instance of the item, and a giveaway of the instance ofthe item.

In embodiments, the ledger is a distributed ledger.

According to some embodiments of the present disclosure, a method forfacilitating transactions via a tokenization platform includesmaintaining a ledger, providing a digital marketplace, receiving arequest to participate in a transaction for an instance of an itemrepresented by a virtual representation of the plurality of virtualrepresentations from a user device of a transacting user, in response toverifying the request to participate in the transaction, associating aspecific token corresponding to the virtual representation with anaccount of the transacting user, receiving a transfer request totransfer the specific token to a different user, wherein the transferrequest includes a digital-token identifier that identifies the specifictoken and a public address of the different user, validating thespecific token based on the digital-token identifier and the ledger,verifying that the different user has a valid account on thetokenization platform based on the public address of the user and theledger, in response to validating the specific token and verifying thedifferent user, updating the ledger with a block that includes ownershipdata that indicates that the specific token corresponding to the virtualrepresentation is owned by the different user, receiving a redemptionrequest to redeem the digital token from a user device of the differentuser, and in response to receiving the redemption request, executing aworkflow to satisfy the transaction for the instance of the itemcorresponding to the token. The ledger stores a plurality of publicaddresses, wherein each respective public address corresponds to arespective account of a respective user of the tokenization platform, aplurality of virtual representations of a plurality of respective items,for each virtual representation, a set of tokens that respectivelycorrespond to a respective instance of the item represented by thevirtual representation, and ownership data of each respective token. Thedigital marketplace provides a second graphical user interface thatallows consumers to view visualizations of virtual representations ofitems includes the virtual representation of the item and to transactfor an instance of the item by purchasing a digital token of the set oftokens.

In embodiments, the set of tokens corresponding to a virtualrepresentation includes non-fungible tokens.

In embodiments, the set of tokens corresponding to a virtualrepresentation includes fungible tokens.

In embodiments, the set of tokens corresponding to a virtualrepresentation are transferrable to other users.

In embodiments, the item is one of a digital good, a physical good, adigital service, a physical service, a digital experience, or a digitalexperience.

In embodiments, a transaction for an instance of an item is one of asale of the instance of the item, a lease of the instance of the item, agifting of the instance of the item, and a giveaway of the instance ofthe item.

In embodiments, the ledger is a distributed ledger.

According to some embodiments of the present disclosure, a methodincludes displaying a digital wallet graphical user interface via a userdevice of a user associated with the digital wallet, displaying, by thedigital wallet graphical user interface, an inventory of tokens that areowned by the user, wherein each token corresponds to a respective itemand wherein each token is redeemable by the user to satisfy atransaction for an instance of the respective item, receiving, by thedigital wallet graphical user interface, an instruction to transfer adigital token from the inventory of tokens to a recipient, displaying,by the digital wallet graphical user interface, a digital keyboard,wherein the digital keyboard includes a selectable media content that isrepresentative of the respective item that corresponds to the digitaltoken to be transferred, receiving, by the digital keyboard, atext-based message includes a selection of the selectable media content,embedding, by the digital keyboard, a digital-token identifier of thedigital token in the text-based message, wherein the digital token isembedded in the selectable media content, and transmitting, by thedigital wallet, the text-based message has the digital-token identifierembedded therein to a message account of the recipient, wherein therecipient can select the selectable media content to accept to thedigital token into a respective digital wallet of the recipient.

In embodiments, the set of tokens corresponding to a virtualrepresentation includes non-fungible tokens.

In embodiments, the set of tokens corresponding to a virtualrepresentation includes fungible tokens.

In embodiments, the set of tokens corresponding to a virtualrepresentation are transferrable to other users.

In embodiments, the item is one of a digital good, a physical good, adigital service, a physical service, a digital experience, or a digitalexperience.

In embodiments, a transaction for an instance of an item is one of asale of the instance of the item, a lease of the instance of the item, agifting of the instance of the item, and a giveaway of the instance ofthe item.

In embodiments, the selectable media content is an emoji has the digitaltoken associated therewith.

In embodiments, the digital token is embedded in the emoji.

In embodiments, the selectable media content includes a deep link wherea recipient of the selectable media content can select the selectablemedia content to accept the digital token.

In embodiments, the selectable media content is one of an image, a .gif,or a video.

In embodiments, the text-based message has the digital-token identifierembedded therein is transferrable from the message account of therecipient to a second messaging account of a second recipient withoutthe first recipient redeeming the digital token, wherein the secondrecipient can select the selectable media content to accept to thedigital token into a respective digital wallet of the second recipient.

According to some embodiments of the present disclosure, a system fortokenizing a token, includes an interface configured to handle a uniqueidentifier for a respective one of a set of first digital tokens,wherein each first digital token is associated with a respectivecryptocurrency, a cryptographic token generation system that generates aset of second digital tokens corresponding to respective first digitaltokens within the set of first digital tokens, wherein each seconddigital token represents a defined quantity of the cryptocurrencyrepresented by the first digital token, wherein the second digital tokenis unique and cryptographically secure, a linking system that generatesa one-to-at-least-one link between each second digital token generatedby the cryptographic token generation system and the respective firstdigital token, such that the second digital token provides a uniquedigital tokenization of the first digital token, wherein theone-to-at-least-one link is cryptographically secure, and a userinterface that enables a workflow for transfer of a plurality of seconddigital tokens within the set of second digital tokens, each of theplurality of second digital tokens representing a respectivecryptocurrency type.

In embodiments, each second digital token is redeemable for therespective defined quantity of the respective first digital token.

In embodiments, each first digital token is a fungible token.

In embodiments, each first digital token is a non-fungible token.

In embodiments, the set of first digital tokens includes fungible tokensand non-fungible tokens.

In embodiments, each first digital token is a respective cryptocurrencycoin.

In embodiments, each first digital token is a respective digital ticketto a respective event.

In embodiments, each first digital token is a respective gift card.

In embodiments, each first digital token is a respective giftcertificate.

In embodiments, each first digital token is a respective digitalrepresentation of a security.

In embodiments, each first digital token is a respective access token toa secure location.

In embodiments, the linking system uses a blockchain.

In embodiments, ownership of the tokenized token is recorded in anownership record system.

In embodiments, the ownership record system uses a distributed ledger.

In embodiments, the second digital token is exchangeable among accountsvia a user interface of the system.

In embodiments, the user interface is integrated with a messagingsystem.

In embodiments, the messaging system is a short message service.

In embodiments, the messaging system is a chat message system.

In embodiments, the messaging system is an email system.

In embodiments, the messaging system is integrated in a socialnetworking site.

In embodiments, the messaging system provides a signal to a digitalwallet such that the digital wallet is updated upon exchange of thesecond digital token without requiring the user to interact with theuser interface of the digital wallet.

In embodiments, the user interface initiates the transfer of theplurality of second digital tokens upon parsing of a code in a messagefrom a party that controls the set of second digital tokens.

In embodiments, the user interface initiates the transfer of theplurality of second digital tokens upon recognition of a movement of thesecond digital token in a user interface.

According to some embodiments of the present disclosure, a system fortokenizing a token, includes an interface configured to handle a uniqueidentifier for a first digital token, wherein the first digital token isa cryptocurrency, a cryptographic token generation system that generatesa second digital token that represents a defined quantity of thecryptocurrency represented by the first digital token, wherein thesecond digital token is unique and cryptographically secure, a linkingsystem configured to generate a one-to-at-least-one link between thesecond digital token generated by the cryptographic token generationsystem and the first digital token, such that the second digital tokenprovides a unique digital tokenization of the first digital token,wherein the one-to-at-least-one link is cryptographically secure, and amessaging system integrating the handling of cryptocurrency exchangesinto a messaging protocol, wherein the messaging system automaticallyexecutes exchange of the cryptocurrency upon sending of a messageincorporating the second digital token therein.

In embodiments, the second digital token is redeemable for a definedquantity of the first digital token.

In embodiments, the first digital token is a cryptocurrency coin.

In embodiments, the linking system uses a blockchain.

In embodiments, ownership of the second digital token is recorded in anownership record system.

In embodiments, the ownership record system uses a distributed ledger.

In embodiments, the second digital token is exchangeable among accountsvia a user interface of the system.

In embodiments, the messaging system provides a signal to a digitalwallet such that the digital wallet is updated upon exchange of thesecond digital token without requiring the user to interact with theuser interface of the digital wallet.

In embodiments, the messaging system initiates the exchange upon parsingof a code in a message from a party that controls the second digitaltoken.

In embodiments, the messaging system initiates an exchange uponrecognition of a movement of the second digital token in a userinterface.

In embodiments, the messaging protocol is a short message serviceprotocol.

According to some embodiments of the present disclosure, a system fortokenizing a token, includes an interface configured to handle a uniqueidentifier for a first digital token, wherein the first digital token isa cryptocurrency, a cryptographic token generation system that generatesa second digital token that represents a defined quantity of thecryptocurrency represented by the first digital token, wherein thesecond digital token is unique and cryptographically secure, a linkingsystem configured to generate a one-to-at-least-one link between thesecond digital token generated by the cryptographic token generationsystem and the first digital token, such that the second digital tokenprovides a unique digital tokenization of the first digital token,wherein the one-to-at-least-one link is cryptographically secure, and anemail system integrating the handling of cryptocurrency exchanges intoan email protocol, wherein the email system automatically executes theexchange upon incorporation of the second digital token representing thedefined quantity of the cryptocurrency into an email message.

In embodiments, the second digital token is redeemable for a definedquantity of the first digital token.

In embodiments, the first digital token is a cryptocurrency coin.

In embodiments, the linking system uses a blockchain.

In embodiments, ownership of the second digital token is recorded in anownership record system.

In embodiments, the ownership record system uses a distributed ledger.

In embodiments, the second digital token is exchangeable among accountsvia a user interface of the system.

In embodiments, the email system provides a signal to a digital walletsuch that the digital wallet is updated upon exchange of the seconddigital token without requiring the user to interact with the userinterface of the digital wallet.

In embodiments, the email system initiates the exchange upon parsing ofa code in a message from a party that controls the second digital token.

In embodiments, the email system initiates an exchange upon recognitionof a movement of the second digital token in a user interface.

According to some embodiments of the present disclosure, a system fortokenizing a token, includes an interface configured to handle a uniqueidentifier for a first digital token, wherein the first digital token iscryptographically secure, a cryptographic token generation system thatgenerates a second digital token includes the first digital token withina secure cryptographic wrapper, wherein the second digital token isunique and cryptographically secure, and a linking system configured togenerate a one-to-at-least-one link between the second digital tokengenerated by the cryptographic token generation system and the firstdigital token, such that the second digital token provides a uniquedigital tokenization of the first digital token, wherein theone-to-at-least-one link is cryptographically secure.

In embodiments, the second digital token is redeemable for a definedquantity of the first digital token.

In embodiments, the first digital token is a fungible token.

In embodiments, the first digital token is a non-fungible token.

In embodiments, the first digital token is a cryptocurrency coin.

In embodiments, the first digital token is a digital ticket to an event.

In embodiments, the first digital token is a gift card.

In embodiments, the first digital token is a gift certificate.

In embodiments, the first digital token is a digital representation of asecurity.

In embodiments, the first digital token is an access token to a securelocation.

In embodiments, the linking system uses a blockchain.

In embodiments, ownership of the tokenized token is recorded in anownership record system.

In embodiments, the ownership record system uses a distributed ledger.

In embodiments, the second digital token is exchangeable among accountsvia a user interface of the system.

In embodiments, the system is integrated with a messaging system.

In embodiments, the messaging system is a short message service.

In embodiments, the messaging system is a chat message system.

In embodiments, the messaging system is an email system.

In embodiments, the messaging system is integrated in a socialnetworking site.

In embodiments, the messaging system provides a signal to a digitalwallet such that the digital wallet is updated upon exchange of thesecond digital token without requiring the user to interact with theuser interface of the digital wallet.

In embodiments, the system executes an exchange of the second digitaltoken upon parsing of a code in a message from a party that controls thesecond digital token.

In embodiments, the system executes an exchange of the second digitaltoken upon recognition of a movement of the second digital token in auser interface.

According to some embodiments of the present disclosure, a system fortokenizing a token, includes an interface configured to handle a uniqueidentifier for a first digital token, a cryptographic token generationsystem that generates a second digital token that is unique andcryptographically secure, a linking system configured to generate aone-to-at-least-one link between the second digital token generated bythe cryptographic token generation system and the first digital token,such that the second digital token provides a unique digitaltokenization of the first digital token, wherein the one-to-at-least-onelink is cryptographically secure, and a rule system configured to manageand apply a set of rules to the second digital token, wherein the set ofrules includes a lock rule that restricts one or more transactionactions involving the second digital token and an unlock rule thatremoves the restriction of the one or more transaction actions involvingthe second digital token.

In embodiments, the lock rule and the unlock rule are configurable by ahost of the system configured to tokenize a token.

In embodiments, the lock rule and the unlock rule are configurable by auser of the system configured to tokenize a token in a user interface ofthe system.

In embodiments, the lock rule and the unlock rule are automaticallyconfigured to enable compatibility with a set of exchange rulesgoverning the first digital token.

In embodiments, the second digital token is redeemable for a definedquantity of the first digital token.

In embodiments, the first digital token is a fungible token.

In embodiments, the first digital token is a non-fungible token.

In embodiments, the first digital token is a cryptocurrency coin.

In embodiments, the first digital token is a digital ticket to an event.

In embodiments, the first digital token is a gift card.

In embodiments, the first digital token is a gift certificate.

In embodiments, the first digital token is a digital representation of asecurity.

In embodiments, the first digital token is an access token to a securelocation.

In embodiments, the linking system uses a blockchain.

In embodiments, ownership of the second token is recorded in anownership record system.

In embodiments, the ownership record system uses a distributed ledger.

In embodiments, the second digital token is exchangeable among accountsvia a user interface of the system.

In embodiments, the system is integrated with a messaging system.

In embodiments, the messaging system is a short message service.

In embodiments, the messaging system is a chat message system.

In embodiments, the messaging system is an email system.

In embodiments, the messaging system is integrated in a socialnetworking site.

In embodiments, the messaging system provides a signal to a digitalwallet such that the digital wallet is updated upon exchange of thesecond digital token without requiring the user to interact with theuser interface of the digital wallet.

In embodiments, the system executes an exchange of tokens upon parsingof a code in a message from a party that controls the second digitaltoken.

In embodiments, the system executes an exchange of tokens uponrecognition of a movement of the second digital token in a userinterface.

According to some embodiments of the present disclosure, a system forhandling a set of secure digital tokens, each of which uniquelyrepresents a respective item, includes an interface configured to handlea unique identifier for a unique unit of an item, a cryptographic tokengeneration system that generates a unique digital token that has a setof digital attributes that correspond to the set of item attributes,wherein the unique digital token is cryptographically secure, acryptographic linking system configured to generate a cryptographicallysecure, one-to-at-least-one link between the cryptographically securetoken generated by the cryptographic token generation system and theunique identifier for the unique unit of the item, such that thecryptographically secure digital token provides a unique digitalrepresentation of the unique unit of the item, and a secure data storagesystem configured to store the unique identifier of the item, thecryptographically secure one-to-at-least-one link, and an identifier ofan owner of the digital token.

In embodiments, the data storage system uses a blockchain.

In embodiments, the data storage system stores a ledger that provides arecord of ownership of the digital token.

In embodiments, upon transfer of the digital token. The ledger isupdated to reflect the change of ownership of the digital token.

In embodiments, the item is a consumer product.

In embodiments, the item is a unique instance of a digital item.

In embodiments, the item is a gift card.

In embodiments, the item is already in existence

In embodiments, the item has a defined type and a defined set ofcharacteristics but is not yet in existence.

In embodiments, the token is redeemable for the right to possess theitem.

In embodiments, possession of the token represents ownership of theitem.

In embodiments, the token is transferable.

In embodiments, the item attributes include a set of physicalattributes.

In embodiments, the item attributes include a set of originationattributes.

In embodiments, the origination attributes include limited editionattributes.

In embodiments, the origination attributes include celebrity signatureattributes.

In embodiments, the origination attributes include certification oforiginality attributes.

In embodiments, the origination attributes include location of originattributes.

In embodiments, the origination attributes include certification ofethical production attributes.

In embodiments, the digital attributes of the token include a datastructure that represents the physical attributes of the item.

In embodiments, the digital attributes of the token include a datastructure that supports a visual representation of the item.

In embodiments, the digital attributes of the token include an image ofthe item.

In embodiments, the digital attributes of the token include a datastructure that represents an animation of the item.

According to some embodiments of the present disclosure, a system forhandling a set of secure digital tokens, each of which uniquelyrepresents a respective item, includes an interface configured to handlea unique identifier for a unique unit of an item, a cryptographic tokengeneration system that generates a unique digital token that has a setof digital attributes that correspond to the set of item attributes,wherein the unique digital token is cryptographically secure, acryptographic linking system configured to generate a cryptographicallysecure, one-to-at-least-one link between the unique digital tokengenerated by the cryptographic token generation system and the uniqueidentifier for the unique unit of the item, such that the unique digitaltoken provides a unique digital representation of the unique unit of theitem, and an ownership record system that provides transfer of ownershipof the unique digital token and provides a secure system of record ofownership of a set of digital tokens that each uniquely tokenize arespective item. The set of digital tokens includes the unique digitaltoken. The item has a set of item attributes.

In embodiments, the ownership record system uses a blockchain.

In embodiments, the ownership record system uses a ledger.

In embodiments, the ownership record systems uses a distributed ledger.

In embodiments, upon transfer of the unique digital token within a codedmessage in a messaging environment. The ownership of the unique digitaltoken is automatically transferred in the ownership record system.

In embodiments, the item is a consumer product.

In embodiments, the item is a unique instance of a digital item.

In embodiments, the item is a gift card.

In embodiments, the item is already in existence

In embodiments, the item has a defined type and a defined set ofcharacteristics but is not yet in existence.

In embodiments, the unique digital token is redeemable for the right topossess the item.

In embodiments, possession of the unique digital token representsownership of the item.

In embodiments, the unique digital token is transferable.

In embodiments, the item attributes include a set of originationattributes.

In embodiments, the origination attributes include limited editionattributes.

In embodiments, the origination attributes include celebrity signatureattributes.

In embodiments, the origination attributes include location of originattributes.

In embodiments, the origination attributes include certification ofethical production attributes.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that represents the physical attributes of theitem.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that supports a visual representation of theitem.

In embodiments, the digital attributes of the unique digital tokeninclude an image of the item.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that represents an animation of the item.

According to some embodiments of the present disclosure, a system forhandling a set of secure digital tokens, each of which uniquelyrepresents a respective item, includes an interface configured to handlea unique identifier for a unique unit of an item, a cryptographic tokengeneration system that generates a unique digital token that has a setof digital attributes that correspond to the set of item attributes,wherein the unique digital token is cryptographically secure, acryptographic linking system configured to generate a cryptographicallysecure, one-to-at-least-one link between the unique digital tokengenerated by the cryptographic token generation system and the uniqueidentifier for the unique unit of the item, such that the unique digitaltoken provides a unique digital representation of the unique unit of theitem, and a messaging system configured to integrate handling of a setof digital tokens into a short messaging service, whereby exchange ofthe unique digital token is automatically executed upon sending a shortmessage service message that incorporates the unique digital tokentherein. The item has a set of item attributes.

In embodiments, the messaging system configured to parse a set of shortmessage service messages for a set of codes that represent instructionsto process a set of actions with respect to the set of digital tokensidentified in the short message service messages.

In embodiments, a code provides an instruction to exchange the uniquedigital token with a recipient of the short message service message.

In embodiments, a code provides an instruction to transfer ownership ofthe unique digital token to a recipient of the short message servicemessage.

In embodiments, a code provides an instruction to gift the uniquedigital token to a recipient of the short message service message.

In embodiments, a code provides an instruction to redeem unique digitaltoken for the item.

In embodiments, a code provides an instruction to move the uniquedigital token to a different account of the sender of the short messageservice message.

In embodiments, a code provides an instruction to move the uniquedigital token to a digital wallet of the recipient of the short messageservice message.

In embodiments, a code provides an instruction to move the uniquedigital token to a digital wallet of the sender of the short messageservice message.

In embodiments, the item is a consumer product.

In embodiments, the item is a unique instance of a digital item.

In embodiments, the item is a gift card.

In embodiments, the item is already in existence

In embodiments, the item has a defined type and a defined set ofcharacteristics but is not yet in existence.

In embodiments, the unique digital token is redeemable for the right topossess the item.

In embodiments, possession of the unique digital token representsownership of the item.

In embodiments, the unique digital token is transferable.

In embodiments, the item attributes include a set of physicalattributes.

In embodiments, the item attributes include a set of originationattributes.

In embodiments, the origination attributes include limited editionattributes.

In embodiments, the origination attributes include celebrity signatureattributes.

In embodiments, the origination attributes include certification oforiginality attributes.

In embodiments, the origination attributes include location of originattributes.

In embodiments, the origination attributes include certification ofethical production attributes.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that represents the physical attributes of theitem.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that supports a visual representation of theitem.

In embodiments, the digital attributes of the unique digital tokeninclude an image of the item.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that represents an animation of the item.

According to some embodiments of the present disclosure, a system forhandling a set of secure digital tokens, each of which uniquelyrepresents a respective item, includes an interface configured to handlea unique identifier for a unique unit of an item, a cryptographic tokengeneration system that generates a unique digital token that has a setof digital attributes that correspond to the set of item attributes,wherein the unique digital token is cryptographically secure, acryptographic linking system configured to generate a cryptographicallysecure, one-to-at-least-one link between the unique digital tokengenerated by the cryptographic token generation system and the uniqueidentifier for the unique unit of the item, such that thecryptographically secure digital token provides a unique digitalrepresentation of the unique unit of the item, and an email systemconfigured to integrate handling of a set of digital tokens into emailmessages, whereby exchange of the unique digital token is automaticallyexecuted upon sending an email message that incorporates the uniquedigital token therein. The item has a set of item attributes.

In embodiments, the email system configured to parse a set of emailmessages for a set of codes that represent instructions to process a setof actions with respect to the set of digital tokens identified in theemail messages.

In embodiments, a code provides an instruction to exchange the uniquedigital token with a recipient of the email message.

In embodiments, a code provides an instruction to transfer ownership ofthe unique digital token to a recipient of the email message.

In embodiments, a code provides an instruction to gift the uniquedigital token to a recipient of the email message.

In embodiments, a code provides an instruction to redeem the uniquedigital token for the item.

In embodiments, a code provides an instruction to move the uniquedigital token to a different account of the sender of the email message.

In embodiments, a code provides an instruction to move the uniquedigital token to a digital wallet of the recipient of the email message.

In embodiments, a code provides an instruction to move the uniquedigital token to a digital wallet of the sender of the email message.

In embodiments, the item is a unique instance of a digital item.

In embodiments, the item is a gift card.

In embodiments, the item is already in existence

In embodiments, the item has a defined type and a defined set ofcharacteristics but is not yet in existence.

In embodiments, the unique digital token is redeemable for the right topossess the item.

In embodiments, possession of the unique digital token representsownership of the item.

In embodiments, the unique digital token is transferable.

In embodiments, the item attributes include a set of physicalattributes.

In embodiments, the item attributes include a set of originationattributes.

In embodiments, the origination attributes include limited editionattributes.

In embodiments, the origination attributes include celebrity signatureattributes.

In embodiments, the origination attributes include certification oforiginality attributes.

In embodiments, the origination attributes include location of originattributes.

In embodiments, the origination attributes include certification ofethical production attributes.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that represents the physical attributes of theitem.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that supports a visual representation of theitem.

In embodiments, the digital attributes of the unique digital tokeninclude an image of the item.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that represents an animation of the item.

In embodiments, the item is a consumer product.

According to some embodiments of the present disclosure, a system forhandling a set of secure digital tokens, each of which uniquelyrepresents a respective item, includes an interface configured to handlea unique identifier for a unique unit of an item, a cryptographic tokengeneration system that generates a unique digital token that has a setof digital attributes that correspond to the set of item attributes,wherein the unique digital token is cryptographically secure, acryptographic linking system configured to generate a cryptographicallysecure, one-to-at-least-one link between the unique digital tokenprovides a unique digital representation of the unique unit of the item,and a system configured to enable gifting of the digital token thatuniquely tokenizes an item, wherein upon recognition of a giftinstruction, the system records the gift in a secure system of record ofownership. The item has a set of item attributes.

In embodiments, the ownership record system uses a blockchain.

In embodiments, the ownership record system uses a ledger.

In embodiments, the ownership record systems uses a distributed ledger.

In embodiments, upon transfer of the digital token within a codedmessage in a messaging environment that indicates intent to gift thedigital token, the ownership of the digital token is automaticallytransferred in the ownership record system to the recipient of the gift.

In embodiments, the item is a consumer product.

In embodiments, the item is a unique instance of a digital item.

In embodiments, the item is a gift card.

In embodiments, the item is already in existence

In embodiments, the item has a defined type and a defined set ofcharacteristics but is not yet in existence.

In embodiments, the token is redeemable for the right to possess theitem.

In embodiments, possession of the token represents ownership of theitem.

In embodiments, the token is transferable.

In embodiments, the attributes of the item include a set of physicalattributes.

In embodiments, the attributes of the item include a set of originationattributes.

In embodiments, the origination attributes include limited editionattributes.

In embodiments, the origination attributes include celebrity signatureattributes.

In embodiments, the origination attributes include certification oforiginality attributes.

In embodiments, the origination attributes include location of originattributes.

In embodiments, the origination attributes include certification ofethical production attributes.

In embodiments, the digital attributes of the token include a datastructure that represents the physical attributes of the item.

In embodiments, the digital attributes of the token include a datastructure that supports a visual representation of the item.

In embodiments, the digital attributes of the token include an image ofthe item.

In embodiments, the digital attributes of the token include a datastructure that represents an animation of the item.

According to some embodiments of the present disclosure, a system forhandling a set of secure digital tokens, each of which uniquelyrepresents a respective item, includes an interface configured to handlea unique identifier for a unique unit of an item, a cryptographic tokengeneration system that generates a unique digital token that has a setof digital attributes that correspond to the set of item attributes,wherein the unique digital token is cryptographically secure, acryptographic linking system configured to generate a cryptographicallysecure, one-to-at-least-one link between the unique digital tokengenerated by the cryptographic token generation system and the uniqueidentifier for the unique unit of the item, such that the unique digitaltoken provides a unique digital representation of the unique unit of theitem, and a system configured to process a redemption instruction forunique digital token that uniquely tokenizes an item, wherein uponreceipt of a redemption instruction the system automatically initiates aprocess for delivery of an item to a party redeeming unique digitaltoken that uniquely tokenizes the item. The item has a set of itemattributes.

In embodiments, the item is a consumer product.

In embodiments, the item is a unique instance of a digital item.

In embodiments, the item is a gift card.

In embodiments, the item is already in existence

In embodiments, the item has a defined type and a defined set ofcharacteristics but is not yet in existence.

In embodiments, the unique digital token is redeemable for the right topossess the item.

In embodiments, possession of the unique digital token representsownership of the item.

In embodiments, the unique digital token is transferable.

In embodiments, the item attributes include a set of physicalattributes.

In embodiments, the item attributes include a set of originationattributes.

In embodiments, the origination attributes include limited editionattributes.

In embodiments, the origination attributes include celebrity signatureattributes.

In embodiments, the origination attributes include certification oforiginality attributes.

In embodiments, the origination attributes include location of originattributes.

In embodiments, the origination attributes include certification ofethical production attributes.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that represents the physical attributes of theitem.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that supports a visual representation of theitem.

In embodiments, the digital attributes of the unique digital tokeninclude an image of the item.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that represents an animation of the item.

According to some embodiments of the present disclosure, a methodincludes receiving, by a processing system, a request to tokenize anitem, receiving, by the processing system, one or more photographs ofthe item, receiving, by the processing system, item informationcorresponding to the item includes a description of the item,generating, by the processing system, a virtual representation of theitem based on the one or more photographs and the item information,requesting, by the processing system, an authentication of the item viaa portal that is accessible by subject-matter authentication experts,wherein the portal displays the virtual representation of the item inthe portal, receiving, by the processing system, an authenticationreport from a subject-matter authentication expert includes an opinionindicating whether the subject-matter authentication expert deemed theitem authentic or not-authentic and one or more reasons for the opinion,and in response to an opinion indicating that the item is deemedauthentic, generating a digital token based on a virtual representationof the item and assigning an ownership of the token to an owner of theitem.

In embodiments, the request to tokenize the item is received inconnection with a request to collateralize the item.

In embodiments, the request to authenticate an item is requested via theportal in response to the machine-learned prediction model is unable topredict that the item is likely not authentic.

In embodiments, the authentication report further includes an appraisalvalue by the subject-matter authentication expert.

In embodiments, transfer of the token is restricted until the loan ispaid or in default.

In embodiments, the smart contract defines whether the loan istransferable to another lender and, if the smart contract allowstransfers of the loan. The smart contract further includes one or moreconditions that when met. cause the smart contract to initiate atransfer of the loan to the other lender.

In embodiments, the smart contract updates a ledger to indicate a changein an ownership interest with respect to the token in response to theone or more conditions is met.

According to some embodiments of the present disclosure, a system fortracking a set of secure digital tokens, each of which uniquelyrepresents an item, includes an interface configured to handle a set ofunique identifiers, each of the set of unique identifiers correspondingto a unique unit of an item, a cryptographic token generation systemthat generates a set of unique digital tokens, each of the set of uniquedigital tokens includes a set of digital attributes that correspond tothe set of item attributes, wherein the unique digital token iscryptographically secure, a cryptographic linking system configured togenerate a cryptographically secure, one-to-at-least-one link betweenthe unique digital token generated by the cryptographic token generationsystem and the unique identifier for the unique unit of the item, suchthat the unique digital token provides a unique digital representationof the unique unit of the item, and an escrow system configured tohandle the items that are represented by the set of unique digitaltokens pending redemption of a respective one or more unique digitaltokens from the set of unique digital tokens.

In embodiments, the escrow system uses a blockchain to record ownershipof the items represented by the set of unique digital tokens.

In embodiments, the escrow system uses a distributed ledger to provide arecord of ownership of the unique digital tokens.

In embodiments, the control of the unique digital token represents theright to receive the item from escrow.

In embodiments, the escrow system provides physical security for theitem pending occurrence of an escrow release condition.

In embodiments, the unique digital token is redeemable for the releaseof the item from escrow.

In embodiments, the unique digital token provides an authenticationmechanism for an access control system that permits physical release ofthe item from escrow.

In embodiments, the item is a consumer product.

In embodiments, the item is a unique instance of a digital item.

In embodiments, the item is a gift card.

In embodiments, the item is already in existence

In embodiments, the item has a defined type and a defined set ofcharacteristics but is not yet in existence.

In embodiments, the unique digital token is redeemable for the right topossess the item.

In embodiments, possession of the unique digital token representsownership of the item.

In embodiments, the unique digital token is transferable.

In embodiments, the attributes of the item include a set of physicalattributes.

In embodiments, the item attributes include a set of originationattributes.

In embodiments, the origination attributes include limited editionattributes.

In embodiments, the origination attributes include celebrity signatureattributes.

In embodiments, the origination attributes include certification oforiginality attributes.

In embodiments, the origination attributes include location of originattributes.

In embodiments, the origination attributes include certification ofethical production attributes.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that represents the physical attributes of theitem.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that supports a visual representation of theitem.

In embodiments, the digital attributes of the unique digital tokeninclude an image of the item.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that represents an animation of the item.

According to some embodiments of the present disclosure, a system forhandling a set of secure digital tokens, each of which uniquelyrepresents an item, includes an interface configured to handle a uniqueidentifier for a unique unit of an item, a cryptographic tokengeneration system that generates a unique digital token that has a setof digital attributes that correspond to the set of item attributes,wherein the unique digital token is cryptographically secure, acryptographic linking system configured to generate a cryptographicallysecure, one-to-at-least-one link between the unique digital tokengenerated by the cryptographic token generation system and the uniqueidentifier for the unique unit of the item, such that the unique digitaltoken provides a unique digital representation of the unique unit of theitem, and a collateral-validation system configured to validate the setof item attributes, each item attribute of the set of item attributes isuniquely represented by one or more digital attributes of the set ofdigital attributes of the unique digital token. The item has a set ofitem attributes.

In embodiments, the collateral-validation system includes an interfaceby which an expert evaluator characterizes a set of the item attributes.

In embodiments, the collateral-validation system includes a locationsystem that validates a physical location of the item.

In embodiments, the location system validates that the item is locatedin a secured location controlled by a host of the system.

In embodiments, the validation system includes a set of sensorsconfigured to detect a set of attributes of the item.

In embodiments, the validation system includes an image capture systemconfigured to capture a set of attributes of the item.

In embodiments, the item is a consumer product.

In embodiments, the item is a unique instance of a digital item.

In embodiments, the item is a gift card.

In embodiments, the item is already in existence

In embodiments, the item has a defined type and a defined set ofcharacteristics but is not yet in existence.

In embodiments, the unique digital token is redeemable for the right topossess the item.

In embodiments, possession of the unique digital token representsownership of the item.

In embodiments, the unique digital token is transferable.

In embodiments, the item attributes include a set of physicalattributes.

In embodiments, the item attributes include a set of originationattributes.

In embodiments, the origination attributes include limited editionattributes.

In embodiments, the origination attributes include celebrity signatureattributes.

In embodiments, the origination attributes include certification oforiginality attributes.

In embodiments, the origination attributes include location of originattributes.

In embodiments, the origination attributes include certification ofethical production attributes.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that represents the physical attributes of theitem.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that supports a visual representation of theitem.

In embodiments, the digital attributes of the unique digital tokeninclude an image of the item.

According to some embodiments of the present disclosure, a system forhandling a set of secure digital tokens, each of which uniquelyrepresents an item, includes an interface configured to handle a uniqueidentifier for a unique unit of an item, a cryptographic tokengeneration system that generates a unique digital token that has a setof digital attributes that correspond to the set of item attributes,wherein the unique digital token is cryptographically secure, acryptographic linking system configured to generate a cryptographicallysecure, one-to-at-least-one link between the unique digital tokengenerated by the cryptographic token generation system and the uniqueidentifier for the unique unit of the item, such that the unique digitaltoken provides a unique digital representation of the unique unit of theitem, and a user interface enabling a set of workflows configured topurchase the unique digital token. The item has a set of itemattributes.

In embodiments, the set of workflows includes a workflow configured tosearch for a category of unique digital token.

In embodiments, the set of workflows includes a workflow configured toset a price for the unique digital token.

In embodiments, the set of workflows includes a workflow configured tobid for the unique digital token.

In embodiments, the set of workflows includes a workflow configured tosolicit a bid for the unique digital token.

In embodiments, the set of workflows includes a workflow configured toadvertise the attributes of the unique digital token.

In embodiments, the set of workflows includes a workflow configured toview an image of the item.

In embodiments, the item is a consumer product.

In embodiments, the real-world object is a unique instance of a digitalitem.

In embodiments, the real-world object is a gift card.

In embodiments, the real-world object is already in existence

In embodiments, the real-world object has a defined type and a definedset of characteristics but is not yet in existence.

In embodiments, the unique digital token is redeemable for the right topossess the real-world object.

In embodiments, possession of the unique digital token representsownership of the real-world object.

In embodiments, the unique digital token is transferable.

In embodiments, the item attributes include a set of physicalattributes.

In embodiments, the item attributes include a set of originationattributes.

In embodiments, the origination attributes include limited editionattributes.

In embodiments, the origination attributes include celebrity signatureattributes.

In embodiments, the origination attributes include certification oforiginality attributes.

In embodiments, the origination attributes include location of originattributes.

In embodiments, the origination attributes include certification ofethical production attributes.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that represents the physical attributes of theitem.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that supports a visual representation of theitem.

In embodiments, the digital attributes of the unique digital tokeninclude an image of the item.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that represents an animation of the item.

According to some embodiments of the present disclosure, a system forhandling a set of secure digital tokens, each of which uniquelyrepresents a real-world object, includes an interface configured tohandle a unique identifier for a unique unit of a real-world object, acryptographic token generation system that generates a unique digitaltoken that has a set of digital attributes that correspond to the set ofreal-world object attributes, wherein the unique digital token iscryptographically secure, a cryptographic linking system configured togenerate a cryptographically secure, one-to-at-least-one link betweenthe unique digital token generated by the cryptographic token generationsystem and the unique identifier for the unique unit of the real-worldobject, such that the unique digital token provides a unique digitalrepresentation of the unique unit of the real-world object, and a userinterface enabling a set of workflows configured to exchange uniquedigital token that uniquely tokenizes a real-world object. The objecthas a set of real-world object attributes.

In embodiments, the user interface includes a set of elements configuredto identify a party to an exchange.

In embodiments, the user interface includes a set of elements configuredto set a value for an exchange.

In embodiments, the user interface includes a set of elements configuredto initiate an exchange and upon such initiation the system records achange of ownership in an ownership record system for the unique digitaltoken.

In embodiments, the real-world object is a consumer product.

In embodiments, the real-world object is a unique instance of a digitalitem.

In embodiments, the real-world object is a gift card.

In embodiments, the real-world object is already in existence

In embodiments, the real-world object has a defined type and a definedset of characteristics but is not yet in existence.

In embodiments, the unique digital token is redeemable for the right topossess the real-world object.

In embodiments, possession of the unique digital token representsownership of the real-world object.

In embodiments, the unique digital token is transferable.

In embodiments, the attributes of the real-world object include a set ofphysical attributes.

In embodiments, the attributes of the real-world object include a set oforigination attributes.

In embodiments, the origination attributes include limited editionattributes.

In embodiments, the origination attributes include celebrity signatureattributes.

In embodiments, the origination attributes include certification oforiginality attributes.

In embodiments, the origination attributes include location of originattributes.

In embodiments, the origination attributes include certification ofethical production attributes.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that represents the physical attributes of thereal-world object.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that supports a visual representation of thereal-world object.

In embodiments, the digital attributes of the unique digital tokeninclude an image of the real-world object.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that represents an animation of the real-worldobject.

In embodiments, the digital attributes of the token include a datastructure that represents a media content depicting the real-worldobject

According to some embodiments of the present disclosure, a system forhandling a set of secure digital tokens, each of which uniquelyrepresents a real-world object, includes an interface configured tohandle a unique identifier for a unique unit of a real-world object acryptographic token generation system that generates a unique digitaltoken that has a set of digital attributes that correspond to the set ofreal-world object attributes, wherein the unique digital token iscryptographically secure, a cryptographic linking system configured togenerate a cryptographically secure, one-to-at-least-one link betweenthe unique digital token generated by the cryptographic token generationsystem and the unique identifier for the unique unit of the real-worldobject, such that the unique digital token provides a unique digitalrepresentation of the unique unit of the real-world object, and a userinterface enabling a set of workflows configured to gift unique digitaltoken that uniquely tokenizes the item.

In embodiments, the user interface includes a set of elements configuredto identify a recipient of a gift.

In embodiments, the user interface includes a set of elements configuredto set a value for the gift.

In embodiments, the user interface includes a set of elements configuredto search for a category of unique digital token that can be provided asa gift.

In embodiments, the user interface includes a set of elements configuredto configure a type and quantity of unique digital token that can begifted.

In embodiments, the user interface includes a set of elements configuredto initiate a gift and upon such initiation the system records a changeof ownership in an ownership record system for the unique digital token.

In embodiments, the real-world object is a consumer product.

In embodiments, the real-world object is a unique instance of a digitalitem.

In embodiments, the real-world object is a gift card.

In embodiments, the real-world object is already in existence

In embodiments, the real-world object has a defined type and a definedset of characteristics but is not yet in existence.

In embodiments, the unique digital token is redeemable for the right topossess the real-world object.

In embodiments, possession of the unique digital token representsownership of the real-world object.

In embodiments, the unique digital token is transferable.

In embodiments, the attributes of the real-world object include a set ofphysical attributes.

In embodiments, the attributes of the real-world object include a set oforigination attributes.

In embodiments, the origination attributes include limited editionattributes.

In embodiments, the origination attributes include celebrity signatureattributes.

In embodiments, the origination attributes include certification oforiginality attributes.

In embodiments, the origination attributes include location of originattributes.

In embodiments, the origination attributes include certification ofethical production attributes.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that represents the physical attributes of thereal-world object.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that supports a visual representation of thereal-world object.

In embodiments, the digital attributes of the unique digital tokeninclude an image of the real-world object.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that represents an animation of the real-worldobject.

According to some embodiments of the present disclosure, a system forhandling a set of secure digital tokens, each of which uniquelyrepresents a real-world object, includes an interface configured tohandle a unique identifier for a unique unit of a real-world object acryptographic token generation system that generates a unique digitaltoken that has a set of digital attributes that correspond to the set ofreal-world object attributes, wherein the unique digital token iscryptographically secure, a cryptographic linking system configured togenerate a cryptographically secure, one-to-at-least-one link betweenthe unique digital token generated by the cryptographic token generationsystem and the unique identifier for the unique unit of the real-worldobject, such that the unique digital token provides a unique digitalrepresentation of the unique unit of the real-world object, and a userinterface enabling a set of workflows configured to redeem the uniquedigital token for the real-world object.

In embodiments, the user interface includes a set of elementsrepresenting a set of digital tokens that are eligible for redemption.The set of digital tokens includes the unique digital token.

In embodiments, the user interface includes a set of elementsrepresenting attributes of the real-world objects that can be obtainedupon redemption.

In embodiments, the user interface includes a set of elements configuredto initiate redemption and wherein upon such initiation a workflow istriggered for delivery of the real-world object to the redeeming party.

In embodiments, the real-world object is a consumer product.

In embodiments, the real-world object is a unique instance of a digitalitem.

In embodiments, the real-world object is a gift card.

In embodiments, the real-world object is already in existence

In embodiments, the real-world object has a defined type and a definedset of characteristics but is not yet in existence.

In embodiments, the unique digital token is redeemable for the right topossess the real-world object.

In embodiments, possession of the unique digital token representsownership of the real-world object.

In embodiments, the unique digital token is transferable.

In embodiments, the attributes of the real-world object include a set ofphysical attributes.

In embodiments, the attributes of the real-world object include a set oforigination attributes.

In embodiments, the origination attributes include limited editionattributes.

In embodiments, the origination attributes include celebrity signatureattributes.

In embodiments, the origination attributes include certification oforiginality attributes.

In embodiments, the origination attributes include location of originattributes.

In embodiments, the origination attributes include certification ofethical production attributes.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that represents the physical attributes of thereal-world object.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that supports a visual representation of thereal-world object.

In embodiments, the digital attributes of the unique digital tokeninclude an image of the real-world object.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that represents an animation of the real-worldobject.

According to some embodiments of the present disclosure, a system forhandling a set of secure digital tokens, each of which uniquelyrepresents a real-world object, includes an interface configured tohandle a unique identifier for a unique unit of a real-world object, acryptographic token generation system that generates a unique digitaltoken that has a set of digital attributes that correspond to the set ofreal-world object attributes, wherein the unique digital token iscryptographically secure, a cryptographic linking system configured togenerate a cryptographically secure, one-to-at-least-one link betweenthe unique digital token generated by the cryptographic token generationsystem and the unique identifier for the unique unit of the real-worldobject, such that the unique digital token provides a unique digitalrepresentation of the unique unit of the real-world object, and ananalytics system configured to monitor, track, and report on a set ofstates, events, and activities of the unique digital token. The objecthas a set of real-world object attributes.

In embodiments, the analytics system reports on aggregated ownershipattributes of a set of digital tokens includes the unique digital token.

In embodiments, the analytic system reports on price attributes of a setof digital tokens includes the unique digital token.

In embodiments, the analytics system reports on redemption activitieswith respect to a category of digital tokens includes the unique digitaltoken.

In embodiments, the analytics system reports on gifting activities withrespect to a category of digital tokens includes the unique digitaltoken.

In embodiments, the analytics system reports on exchange activities withrespect to a category of digital tokens includes the unique digitaltoken.

In embodiments, the analytics system reports on search activities withrespect to a category of digital tokens includes the unique digitaltoken.

In embodiments, the analytics system reports on escrow activities withrespect to a category of digital tokens includes the unique digitaltoken.

In embodiments, the analytics system reports on financial performancewith respect to a category of digital tokens includes the unique digitaltoken.

In embodiments, the analytics system reports on financial performancewith respect to a category of real-world objects.

In embodiments, the analytics system reports on activities with respectto a set of real-world objects.

In embodiments, the analytics system reports on physical attributes withrespect to a category of real-world objects.

In embodiments, the real-world object is a consumer product.

In embodiments, the real-world object is a unique instance of a digitalitem.

In embodiments, the real-world object is a gift card.

In embodiments, the real-world object is already in existence

In embodiments, the real-world object has a defined type and a definedset of characteristics but is not yet in existence.

In embodiments, the unique digital token is redeemable for the right topossess the real-world object.

In embodiments, possession of the unique digital token representsownership of the real-world object.

In embodiments, the unique digital token is transferable.

In embodiments, the attributes of the real-world object include a set ofphysical attributes.

In embodiments, the attributes of the real-world object include a set oforigination attributes.

In embodiments, the origination attributes include limited editionattributes.

In embodiments, the origination attributes include celebrity signatureattributes.

In embodiments, the origination attributes include certification oforiginality attributes.

In embodiments, the origination attributes include location of originattributes.

In embodiments, the origination attributes include certification ofethical production attributes.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that represents the physical attributes of thereal-world object.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that supports a visual representation of thereal-world object.

In embodiments, the digital attributes of the unique digital tokeninclude an image of the real-world object.

In embodiments, the digital attributes of the unique digital tokeninclude a data structure that represents an animation of the real-worldobject.

In embodiments, the digital attributes of the token include a datastructure that represents a media content depicting the real-worldobject.

According to some embodiments of the present disclosure, a method forfacilitating transactions via a tokenization platform includesmaintaining a plurality of public addresses, a plurality of virtualrepresentations of a plurality of respective items, a set of digitaltokes for each virtual representation, and ownership data of eachrespective token, receiving a redemption request to redeem a digitaltoken of the set of digital tokens from a user device of a user, inresponse to receiving the redemption request, verifying that the user isthe owner of the digital token based on the plurality of publicaddresses, the set of tokens, and the redemption request, in response toverifying that the user is the owner of the digital token, requestingdelivery details pertaining to the item from the user, receiving thedelivery details from the user device of the user, and in response toreceiving the delivery details from the user device, outputting thedelivery details to a delivery system that facilitates delivery of theitem. The digital token corresponding to an instance of an item to beredeemed.

In embodiments, requesting the delivery details pertaining to the itemincludes requesting a current location of the user.

In embodiments, the item is redeemed is one of a food item or a rideshare.

In embodiments, the user device provides a geolocation of the userdevice.

In embodiments, the user device provides an address provided by theuser.

In embodiments, the item is redeemed is a tangible good.

In embodiments, the delivery details include a current geolocation ofthe user device captured by the user device.

In embodiments, the delivery details include a current address of theuser provided to the user device by the user via a graphical userinterface of the user device.

In embodiments, the set of tokens corresponding to a virtualrepresentation are transferrable to other users.

In embodiments, a transaction for an instance of an item is one of asale of the instance of the item, a lease of the instance of the item, agifting of the instance of the item, and a giveaway of the instance ofthe item.

In embodiments, the plurality of public addresses, the plurality ofvirtual representations, and the respective set of tokens correspondingto each of the plurality of virtual representations are maintained in aledger.

In embodiments, the ledger is a distributed ledger.

In embodiments, the digital token is associated with the account of theuser in the ledger.

According to some embodiments of the present disclosure, a method forfacilitating transactions via a tokenization platform includesmaintaining a plurality of public addresses, a plurality of virtualrepresentations of a plurality of respective items, a set of digitaltokes for each virtual representation, and ownership data of eachrespective token, receiving a redemption request to redeem a digitaltoken of the set of tokens from a user device of a user, in response toreceiving the redemption request, verifying that the user is the ownerof the digital token based on the plurality of public addresses, theownership data of the set of digital tokens, and the redemption request,in response to verifying that the user is the owner of the digitaltoken, requesting fulfilment details pertaining to the item from theuser, wherein the fulfilment details include information needed tosatisfy the transaction for the item that were not provided at a timewhen the digital token was transacted for, receiving the fulfilmentdetails from the user device of the user, and in response to receivingthe fulfilment details from the user device, outputting the fulfilmentdetails to a fulfilment system that satisfies transactions for items.The digital token corresponding to an instance of an item to beredeemed. Each respective public address corresponds to a respectiveaccount of a respective user of the tokenization platform. The set ofdigital tokens each respectively correspond to a respective instance ofthe item represented by the virtual representation.

In embodiments, the item is an article of clothing.

In embodiments, requesting the fulfilment details pertaining to the itemincludes requesting a size of the item.

In embodiments, requesting the fulfilment details pertaining to the itemincludes requesting a color of the item.

In embodiments, requesting the fulfilment details pertaining to the itemincludes requesting a delivery date of the item.

In embodiments, the set of tokens corresponding to a virtualrepresentation are transferrable to other users.

In embodiments, a transaction for an instance of an item is one of asale of the instance of the item, a lease of the instance of the item, agifting of the instance of the item, and a giveaway of the instance ofthe item.

In embodiments, the set of tokens corresponding to a virtualrepresentation includes non-fungible tokens.

In embodiments, the set of tokens corresponding to a virtualrepresentation includes fungible tokens.

In embodiments, the set of tokens corresponding to a virtualrepresentation are transferrable to other users.

In embodiments, the item is one of a digital good, a physical good, adigital service, a physical service, a digital experience, or a digitalexperience.

In embodiments, the plurality of public addresses, the plurality ofvirtual representations, and the respective set of tokens correspondingto each of the plurality of virtual representations are maintained in aledger.

In embodiments, the ledger is a distributed ledger.

In embodiments, the digital token is associated with the account of theuser in the ledger.

According to some embodiments of the present disclosure, a methodincludes receiving, by a processing system, a request to securitize anasset of a user, receiving, by the processing system, one or morephotographs of the asset, receiving, by the processing system, iteminformation relating to the asset, receiving, by the processing system,a holding location of the asset, generating, by the processing system, avirtual representation of the asset based on the one or morephotographs, the item information, and the hold location, generating, bythe processing system, a digital token based on the virtualrepresentation, assigning, by the processing system, ownership of thedigital token to the user, receiving, by the processing system, anagreement to provide a service for the user by a provider using theasset as collateral, generating, by the processing system, an instanceof a smart contract governing the service, the instance of the smartcontract indicating an amount to be provided by the user to the providerand one or more conditions that cause ownership of the digital token tobe transferred to the provider, and deploying, by the processing system,the instance of the smart contract. The item information includes adescription of the asset and an appraisal value of the asset.

In embodiments, the smart contract initiates the transfer of the digitaltoken to an account of the lender upon determining that the user failedto provide the amount.

In embodiments, the service is transferrable to another provider.

In embodiments, the item information includes a weight of thecollateralization item.

In embodiments, the instance of the smart contract is deployed to aledger.

In embodiments, the ledger is a distributed ledger.

In embodiments, the distributed ledger is a blockchain.

According to some embodiments of the present disclosure, a methodincludes receiving, by a processing system, a request to collateralize acollateralization item of a user seeking a loan, receiving, by theprocessing system, one or more photographs of the collateralizationitem, receiving, by the processing system, item information relating tothe collateralization item, the item information includes a descriptionof the collateralization item and an appraisal value of thecollateralization item, receiving, by the processing system, a holdinglocation of the collateralization item, generating, by the processingsystem, a virtual representation of the collateralization item based onthe one or more photographs, the item information, and the holdlocation, generating, by the processing system, a digital token based onthe virtual representation, assigning, by the processing system,ownership of the digital token to the user seeking the loan, receiving,by the processing system, an agreement to lend a defined amount of fundsto the user by a lender using the collateralization item as collateral,generating, by the processing system, an instance of a smart contractgoverning the loan, the instance of the smart contract indicating anamount to be paid back by the user to the lender and one or moreconditions that cause ownership of the digital token to be transferredto the lender, and deploying, by the processing system, the instance ofthe smart contract.

In embodiments, the smart contract initiates the transfer of the digitaltoken to an account of the lender upon determining that the user is indefault of the loan.

In embodiments, the loan is transferrable to another lender.

In embodiments, the item information includes a weight of thecollateralization item.

In embodiments, the instance of the smart contract is deployed to aledger.

In embodiments, the ledger is a distributed ledger.

According to some embodiments of the present disclosure, a method forfacilitating transactions via a tokenization platform includesmaintaining a plurality of public addresses, a plurality of virtualrepresentations of a plurality of respective items, a set of digitaltokes for each virtual representation, and ownership data of eachrespective token, rendering a virtual reality store environment, whereinthe virtual reality store environment provides an interface that allowsusers to view virtual reality visualizations of available items that areavailable for transaction and to transact for instances of the availableitems, rendering a virtual reality visualization of an item representedby a virtual representation of the plurality of virtual representationsbased on the virtual reality content in in the virtual representation,wherein the virtual reality visualization of the item is presented inthe virtual reality store environment, receiving a request toparticipate in a transaction for an instance of the item represented bythe virtual reality representation of the item from a user device of atransacting user, wherein the request to participate in the transactionis received in response to the transacting user viewing the virtualreality representation of the item in the virtual reality storeenvironment, and in response to verifying the request to participate inthe transaction, associating a specific token corresponding to thevirtual representation with an account of the transacting user. Eachrespective public address corresponds to a respective account of arespective user of the tokenization platform. The set of digital tokenseach respectively correspond to a respective instance of the itemrepresented by the virtual representation.

In embodiments, the set of tokens corresponding to a virtualrepresentation includes non-fungible tokens.

In embodiments, the set of tokens corresponding to a virtualrepresentation includes fungible tokens.

In embodiments, the set of tokens corresponding to a virtualrepresentation are transferrable to other users.

In embodiments, the item is one of a digital good, a physical good, adigital service, a physical service, a digital experience, or a digitalexperience.

In embodiments, a transaction for an instance of an item is one of asale of the instance of the item, a lease of the instance of the item, agifting of the instance of the item, and a giveaway of the instance ofthe item.

In embodiments, the plurality of public addresses, the plurality ofvirtual representations, and the respective set of tokens for each ofthe plurality of virtual representations are maintained in a distributedledger.

In embodiments, the ledger is a distributed ledger.

In embodiments, the digital token is associated with the account of theuser in the ledger.

According to some embodiments of the present disclosure, a method forfacilitating transactions via a tokenization platform includesmaintaining a ledger that includes a main chain of blocks and a firstside chain of blocks, receiving a request to participate in atransaction for an instance of an item represented by a virtualrepresentation of the plurality of virtual representations from a userdevice of a transacting user, and in response to verifying the requestto participate in the transaction, updating ownership data of a specifictoken corresponding to the virtual representation in the first sidechain of blocks to indicate that the transacting user owns the specifictoken. The blocks of the main chain collectively store informationrelating to a plurality of users, including item providers andconsumers. The information relating to the plurality of users includes aplurality of public addresses, and each respective public addresscorresponds to a respective account of a respective user of thetokenization platform. The first side chain of blocks collectivelystores a plurality of virtual representations of a plurality ofrespective items, a set of tokens that respectively correspond to arespective instance of the item represented by the virtualrepresentation for each virtual representation, and ownership data ofeach respective token. Each virtual representation includes virtualreality content to render a virtual reality visualization of therespective item.

In embodiments, the ledger further includes a second side chain ofblocks that collectively store one or more respective media contentsrelating to respective virtual representations of the plurality ofvirtual representations.

In embodiments, the one or more respective media contents include animage of a respective item represented by a respective virtualrepresentation.

In embodiments, the one or more respective media contents include avideo of a respective item represented by a respective virtualrepresentation.

In embodiments, the one or more respective media contents includevirtual reality content depicting a respective item represented by arespective virtual representation.

In embodiments, the set of tokens corresponding to a virtualrepresentation includes non-fungible tokens.

In embodiments, the set of tokens corresponding to a virtualrepresentation includes fungible tokens.

In embodiments, the set of tokens corresponding to a virtualrepresentation are transferrable to other users.

In embodiments, the item is one of a digital good, a physical good, adigital service, a physical service, a digital experience, or a digitalexperience.

In embodiments, a transaction for an instance of an item is one of asale of the instance of the item, a lease of the instance of the item, agifting of the instance of the item, and a giveaway of the instance ofthe item.

In embodiments, the ledger is a distributed ledger.

According to some embodiments of the present disclosure, a method forfacilitating transactions via a tokenization platform includesmaintaining a ledger that includes a main chain of blocks and a firstside chain of blocks, receiving a transfer request to transfer thespecific token from an owner of the specific token to a different user,wherein the transfer request includes a digital-token identifier thatidentifies the specific token and a public address of the differentuser, validating the specific token based on the digital-tokenidentifier and the first chain of blocks, verifying that the differentuser has a valid account on the tokenization platform based on thepublic address of the user and the main chain of blocks, and in responseto validating the specific token and verifying the different user,updating the second chain of blocks with a new block that includesownership data that indicates that the specific token corresponding tothe virtual representation is owned by the different user. The blocks ofthe main chain collectively store information relating to plurality ofusers, including item providers and consumers, wherein the informationrelating to the plurality of users includes a plurality of publicaddresses, and each respective public address corresponds to arespective account of a respective user of the tokenization platform.The blocks of the first side chain collectively store a plurality ofvirtual representations of a plurality of respective items, a set oftokens that respectively correspond to a respective instance of the itemrepresented by the virtual representation for each virtualrepresentation, and ownership data of each respective token. Eachvirtual representation includes virtual reality content to render avirtual reality visualization of the respective item.

In embodiments, the ledger further includes: a second side chain ofblocks that collectively store one or more respective media contentsrelating to respective virtual representations of the plurality ofvirtual representations.

In embodiments, the one or more respective media contents include animage of a respective item represented by a respective virtualrepresentation.

In embodiments, the one or more respective media contents include avideo of a respective item represented by a respective virtualrepresentation.

In embodiments, the one or more respective media contents includevirtual reality content depicting a respective item represented by arespective virtual representation.

In embodiments, the set of tokens corresponding to a virtualrepresentation includes non-fungible tokens.

In embodiments, the set of tokens corresponding to a virtualrepresentation includes fungible tokens.

In embodiments, the set of tokens corresponding to a virtualrepresentation are transferrable to other users.

In embodiments, the item is one of a digital good, a physical good, adigital service, a physical service, a digital experience, or a digitalexperience.

In embodiments, a transaction for an instance of an item is one of asale of the instance of the item, a lease of the instance of the item, agifting of the instance of the item, and a giveaway of the instance ofthe item.

In embodiments, the ledger is a distributed ledger.

According to some embodiments of the present disclosure, a methodincludes generating, by a processing system of a tokenization platform,a referral code corresponding to a user of the tokenization platform,generating, by the processing system, an instance of a smart contractcorresponding to the user of the tokenization platform, the instance ofthe smart contract indicating an incentive to be provided to the userwhen the user successfully refers the tokenization platform, deploying,by the processing system, the instance of the smart contract, receiving,by the processing system, a request to create a new account from a newuser, creating, by the processing system, the new account for the newuser, and providing, by the processing system, a notification of the newaccount to the instance of the smart contract corresponding to the user,wherein the instance of the smart contract facilitates the transfer of atoken representing the incentive in response to the notification. Therequest includes the referral code of the user.

In embodiments, the incentive is a monetary incentive represented by thetoken.

In embodiments, an amount of monetary incentive is selected based on asocial media reach of the user.

In embodiments, the incentive is an item represented by the token.

In embodiments, the instance of the smart contract is deployed to aledger.

In embodiments, the ledger is a distributed ledger.

According to some embodiments of the present disclosure, a methodincludes receiving, by a processing system, a request to create amystery box, receiving, by the processing system, a set of tokens to beincluded in the mystery box, each token in the set of tokensrepresenting a respective item and has a probability assigned thereto,generating, by the processing system. generating, by the processingsystem, an instance of a smart contract associated with the mystery boxthat governs the transfer of tokens from the set of tokens in support ofthe mystery box, and deploying, by the processing system, the instanceof the smart contract. The probability indicates a probability ofwinning the respective item. The mystery box is based on the set oftokens and the probabilities assigned thereto. Each token in the set oftokens is assigned a range of values within an interval of values suchthat the range of values with respect to the interval of values isproportionate to the probability assigned to the token.

In embodiments, the request to play the mystery box is received from agaming device in a brink-and-mortar location via an API.

In embodiments, the request to play the mystery box is received from auser device via a graphical user interface presented by the user device.

In embodiments, the set of tokens includes fungible tokens representingfungible items.

In embodiments, the set of tokens includes at least one non-fungibletoken, wherein each non-fungible token represents a non-fungible item.

In embodiments, the instance of the smart contract is deployed to aledger.

In embodiments, the ledger is a distributed ledger.

According to some embodiments of the present disclosure, a methodincludes maintaining, by a processing system, an inventory of availabletokens that are available for integration in a video game, wherein eachtoken in the inventory of tokens represents a respective item,receiving, by the processing system, a token request for a digital tokenfrom an instance of the video game via an API, selecting, by theprocessing system, the digital token from the inventory of availabletokens based on the token request, providing, by the processing system,an indicator of the digital token to the instance of the video game,receiving, by the processing system, a transaction request from theinstance of the video game, the transaction request requesting atransfer of the digital token provided to the instance of the video gameto an account of a user of the instance of the video game, and updating,by the processing system, a ledger to reflect that the user is the ownerof the digital token.

In embodiments, the digital token request indicates a geolocation of theuser device.

In embodiments, the digital token is selected based on the geolocationof the user device.

In embodiments, the item represented by the digital token may be used bythe user in the video game.

In embodiments, the item represented by the digital token is a fooditem.

In embodiments, the ledger is a distributed ledger.

According to some embodiments of the present disclosure, a system fortokenizing a token, includes an interface configured to handle a uniqueidentifier for each first digital token within a set of first digitaltokens, a cryptographic token generation system that generates a set ofsecond digital tokens, each second digital token is unique andcryptographically secure, a linking system configured to generate aone-to-at-least-one link between the second digital token generated bythe cryptographic token generation system and the first digital token,such that the second digital token provides a unique digitaltokenization of the first digital token, wherein the one-to-at-least-onelink is cryptographically secure, and a trading system providing a setof tradeable derivatives of the set of the first digital tokens byenabling trading of the second digital tokens, where each of the set ofsecond digital tokens represent a respective defined quantity of thefirst digital tokens.

In embodiments, each second digital token is redeemable for therespective defined quantity of the first digital tokens.

In embodiments, each second digital token represents a future right toredeem a defined quantity of the first digital tokens.

In embodiments, each second digital token represents a future right topurchase a defined quantity of the first digital tokens.

In embodiments, each second digital token represents a future right tosell a defined quantity of the first digital tokens.

In embodiments, each second digital token represents a future right toput a transfer of a defined quantity of the first digital tokens to adefined party.

In embodiments, each second digital token represents an option topurchase a defined quantity of the first digital tokens.

In embodiments, each second digital token represents an option to sell adefined quantity of the first digital tokens.

In embodiments, each second digital token represents a tradeablefinancial derivative of a set of attributes of the first digital tokens.

In embodiments, the first digital token is a fungible token.

In embodiments, the first digital token is a non-fungible token.

In embodiments, the first digital token is a cryptocurrency coin.

In embodiments, the first digital token is a digital ticket to an event.

In embodiments, the first digital token is a gift card.

In embodiments, the first digital token is a gift certificate.

In embodiments, the first digital token is a digital representation of asecurity.

In embodiments, the first digital token is an access token to a securelocation.

In embodiments, the linking system uses a blockchain.

In embodiments, ownership of the tokenized token is recorded in anownership record system.

In embodiments, the ownership record system uses a distributed ledger.

In embodiments, the second digital token is exchangeable among accountsvia a user interface of the system.

In embodiments, the system is integrated with a messaging system.

In embodiments, the messaging system is a short message service.

In embodiments, the messaging system is a chat message system.

In embodiments, the messaging system is an email system.

In embodiments, the messaging system is integrated in a socialnetworking site.

In embodiments, the messaging system provides a signal to a digitalwallet such that the digital wallet is updated upon exchange of thesecond digital token without requiring the user to interact with theuser interface of the digital wallet.

In embodiments, the system executes an exchange of respective seconddigital tokens upon parsing of a code in a message from a party thatcontrols the set of second digital tokens.

In embodiments, the system executes an exchange of respective seconddigital tokens upon recognition of a movement of the respective seconddigital tokens in a user interface.

According to some embodiments of the present disclosure, a system fortokenizing a token, includes an interface configured to handle a uniqueidentifier for a first digital token, wherein the first digital tokenassociated with a cryptocurrency, a cryptographic token generationsystem that generates a second digital token that represents a definedquantity of the cryptocurrency represented by the first digital token,wherein the second digital token is unique and cryptographically secureand the second digital token uses a data object that represents a set ofattributes, each attribute of the set of attributes has a defined rangeof parameters, and the data object provides a secure, digital, tradeablederivative of a cryptocurrency in an amount represented by the seconddigital token, and a linking system configured to generate aone-to-at-least-one link between the second digital token generated bythe cryptographic token generation system and the first digital token,such that the second digital token provides a unique digitaltokenization of the tradeable derivative of the first digital token.

In embodiments, the second digital token is redeemable for the definedquantity of the first digital token.

In embodiments, the second digital token represents a future right toredeem the defined quantity of the first digital token.

In embodiments, the second digital token represents a future right topurchase the defined quantity of the first digital token.

In embodiments, the second digital token represents a future right tosell the defined quantity of the first digital token.

In embodiments, the second digital token represents a future right toput a transfer of the defined quantity of the first digital token to adefined party.

In embodiments, the second digital token represents an option topurchase the defined quantity of the first digital token.

In embodiments, the second digital token represents an option to sellthe defined quantity of the first digital token.

In embodiments, the second digital token represents a tradeablefinancial derivative of a set of attributes of first digital token.

In embodiments, the second digital token is redeemable for the definedquantity of the first digital token.

In embodiments, the first digital token is a fungible token.

In embodiments, the first digital token is a non-fungible token.

In embodiments, the first digital token is a cryptocurrency coin.

In embodiments, the first digital token is a digital ticket to an event.

In embodiments, the first digital token is a gift card.

In embodiments, the first digital token is a gift certificate.

In embodiments, the first digital token is a digital representation of asecurity.

In embodiments, the first digital token is an access token to a securelocation.

In embodiments, the linking system uses a blockchain.

In embodiments, ownership of the tokenized token is recorded in anownership record system.

In embodiments, the ownership record system uses a distributed ledger.

In embodiments, the second digital token is exchangeable among accountsvia a user interface of the system.

In embodiments, the system is integrated with a messaging system.

In embodiments, the messaging system is a short message service.

In embodiments, the messaging system is a chat message system.

In embodiments, the messaging system is an email system.

In embodiments, the messaging system is integrated in a socialnetworking site.

In embodiments, the messaging system provides a signal to a digitalwallet such that the digital wallet is updated upon exchange of thesecond digital token without requiring the user to interact with theuser interface of the digital wallet.

In embodiments, the system executes an exchange of the second digitaltoken upon parsing of a code in a message from a party that controls thesecond digital token.

In embodiments, the system executes an exchange of the second digitaltoken upon recognition of a movement of the second digital token in auser interface.

A more complete understanding of the disclosure will be appreciated fromthe description and accompanying drawings and the claims, which follow.

BRIEF DESCRIPTION OF THE DRAWINGS

The accompanying drawings, which are included to provide a betterunderstanding of the disclosure, illustrate embodiment(s) of thedisclosure and together with the description serve to explain theprinciple of the disclosure. In the drawings:

FIG. 1 is a schematic illustrating an example environment of atokenization platform according to some embodiments of the presentdisclosure.

FIG. 2 is a schematic illustrating an example marketplace systemaccording to some embodiments of the present disclosure.

FIG. 3 is a schematic illustrating an example ledger management systemaccording to some embodiments of the present disclosure.

FIG. 4 is a schematic illustrating an example transactions systemaccording to some embodiments of the present disclosure.

FIG. 5 is a schematic illustrating an example intelligence andautomation system according to some embodiments of the presentdisclosure.

FIG. 6 is a schematic illustrating an example analytics and reportingsystem according to some embodiments of the present disclosure.

FIG. 7 is a user interface displaying tokens within a wallet, accordingto some embodiments of the present disclosure.

FIG. 8 is a schematic illustrating an example set of components of atokenization platform according to some embodiments of the presentdisclosure.

FIG. 9 is a flowchart showing a technique for according to someembodiments of the present disclosure.

FIG. 10 is a flowchart showing a technique for according to someembodiments of the present disclosure.

FIG. 11 is a flowchart showing a technique for according to someembodiments of the present disclosure.

FIG. 12 is a flowchart showing a technique for according to someembodiments of the present disclosure.

FIG. 13 is a flowchart showing a technique for according to someembodiments of the present disclosure.

FIG. 14 is a flowchart showing a technique for according to someembodiments of the present disclosure.

FIG. 15 is a flowchart showing a technique for according to someembodiments of the present disclosure.

FIG. 16 is a flowchart showing a technique for according to someembodiments of the present disclosure.

FIG. 17 is a flowchart showing a technique for according to someembodiments of the present disclosure.

FIG. 18 is a flowchart showing a technique for according to someembodiments of the present disclosure.

FIG. 19 is a flowchart showing a technique for according to someembodiments of the present disclosure.

DETAILED DESCRIPTION

The present disclosure relates to a tokenization platform that enablesthe creation of virtual representations of merchandised items, such asgoods, services, and/or experiences. As used herein the term “item” mayrefer to a digital asset (e.g., gift card, digital music file, digitalvideo file, software, digital photograph, etc.), physical good, digitalservice (e.g., video streaming subscription), physical service (e.g.,chauffer service, maid service, dry cleaning service), and/or purchasedexperience (e.g., hotel package, concert ticket, airlines ticket, etc.),or any combination thereof. It is noted that an item may refer to goodsthat already exist or that can be produced at a later time. For example,an item may be an unmade pizza or article of clothing. A purchaser ofsuch an item may purchase the item, and the item may be produced at atime after the purchase. The term virtual item may refer to a virtualrepresentation of a merchandised item. In creating a virtualrepresentation to an item, many of the purchase-time decisions requiredfor traditional ecommerce transactions can be postponed and bifurcatedfrom the transaction itself, thereby creating additional value for thepurchaser. For example, a purchaser may wish to order a pair of shoes,but is not yet sure when the shoes will be needed or where the deliverylocation should be.

The purchaser may purchase the virtual representation of the shoes. Thevirtual representation may be redeemed at a later time, such that theredeemer (e.g., the purchaser or a recipient of a gift) may specify thedelivery time and delivery location when the redeemer so chooses. Bycreating virtual items, new value is created for purchasers or anyrecipients, as a series of choices that can be put on hold untilredemption time.

Furthermore, in conventional ecommerce platforms, there are norecordation mechanisms of an item being transferred between unknownparties that can be checked and trusted. Additionally, there is also noway of storing sensitive financial information without a centralizedentity. Thus in embodiments, the tokenization platform may be configuredto issue electronic tokens (or “tokens”) that are configured to bestored on a cryptographically secure ledger to provide a process bywhich virtual representations allow the transfer of the item betweenunknown parties, while also allowing anyone to check the status of thetoken at any time and trust that it is correct. As used herein, unlessotherwise indicated by context, “cryptographically” indicates use of acryptographic algorithm, such as a hashing algorithm.

The ecommerce platform may be configured to support additional oralternative ecosystems. In embodiments, the tokenization platform isconfigured to support a token-based lending system, whereby lenders maycreate virtual items corresponding to collateral (e.g., jewelry,collectible items, artwork, and the like). The ecommerce platform maytokenize the virtual item and may store the token on a distributedledger. In this way, the loan may be sold and only the token needs to betransferred between lenders. In some embodiments, a smart contract maybe used to manage the loan, possession of the token, and othertransactions corresponding to the loan.

In some embodiments, the tokenization platform is configured toauthenticate real world items. In some of these embodiments, thetokenization platform may enlist subject matter experts to authenticateitems using a virtual representation of the items. A subject matterexpert may provide an authentication report that includes notes for theexpert's underlying opinion. The authentication report may be used todeny or allow an item to be used for collateral or sold on the platform.Additionally, in some embodiments, the authentication reports can beused to train machine learned models, such that the platform may usemachine vision, machine learning, sensors (e.g., scales), and/or othersuitable techniques to authenticate items.

In embodiments, the tokenization platform is configured to support a“mystery box” game. The mystery box game is a game of change, whereusers can win tokens from the mystery box, such that the tokensrepresent items and the tokens can be redeemed, traded, sold, gifted,and the like. In some of these embodiments, the tokenization platformsupports casino-style gaming, whereby the mystery box game may be playedat casinos and other brick and mortar locations.

In embodiments, the tokenization platform is configured to supportin-video game streaming. In some of these embodiments, the tokenizationplatform may provide indicators of tokens to instances of video games,whereby the video game makers can use the tokens in a number ofdifferent ways. For example, tokens may appear in a video game to allowa food delivery service to sell deliverable food in game. In anotherexample, a token may represent a digital item that can be used in thegame, but then later can be redeemed to obtain a real-world itemcorresponding to the digital item.

In embodiments, the tokenization platform may provide a rewards-baseduser acquisition program, whereby users can enlist for referral codes.When the user successfully refers a user to the tokenization platform,the user is rewarded with a token. The token can represent monetarycompensation or an item (e.g., a gift card, a pair of shoes, a musicalbum, a DVD, or the like).

FIG. 1 illustrates an example ecosystem of a tokenization platform 100(or the “platform”) according to some embodiments of the presentdisclosure. The environment includes the platform 100, node computingdevices 160, external data sources 170, content platforms 180, and userdevices 190. The platform 100, the node computing devices 160, theexternal data sources 170, the content platforms 180, and the userdevices 190 may communicate via a communication network 10 (e.g., theInternet and/or a cellular network).

In embodiments, the tokenization platform 100 manages one or morecryptographic ledgers (or “distributed ledgers”) and provides flexiblefunctionality of virtual representations of items such as goods,services, and/or experiences with the fulfillment and satisfaction ofsaid items. In embodiments, the platform 100 provides a marketplace forthe 3rd party sellers to transact for items using tokens, whereby atoken is a digital marker that defines an ownership right in aparticular item. Additionally, or alternatively, the provider of theplatform 100 may sell, lease, give away, or otherwise transact itemsoffered by the provider. As used herein, the term “transaction” mayrefer to the sale/purchase, the leasing, the gifting, collateralization,or any other action that affects an ownership of a token. As will bediscussed, in some embodiments a token may be redeemed by an owner ofthe token, such that the owner of the token may take possession of theitem upon redemption of the token.

In some embodiments, the seller of an item (or any other suitable user)may access the platform 100 to define a virtual representation of theitem that the seller is offering for transaction. The virtualrepresentation of the item may include information that identifies theitem (e.g., a serial number corresponding to the item, a model number ofthe item, and the like), information relating to the item (e.g., aclassification of the item, textual descriptions, images, audio, video,virtual reality data, augmented reality data, and the like), and/or codethat may be used to facilitate or verify transactions involving the item(e.g., smart contracts). In some embodiments, the platform may“tokenize” an item on behalf of a seller of the item by generating a setof tokens based on the virtual representation of the item and storingthe tokens and associated metadata in a cryptographically securedistributed ledger, thereby making the tokens (and the virtualrepresentation) verifiable, transferable, and trackable.

In embodiments, the platform 100 may receive data from one or moreexternal data sources 170. An external data source 170 may refer to anysystem or device that can provide data to the platform. In embodiments,data sources may include merchant, manufacturer, or service providersystems and/or databases that provide the platform 100 with data relatedto an available item. External data sources may also include userdevices 190, such that the user devices 190 may provide relevant data(e.g., contacts, cookies, and the like). Examples of external datasources 170 may include e-Commerce websites, organizational websites,software applications, and contact lists (e.g., phone contacts, emailcontacts, messenger client contacts, and the like). The platform 100 mayaccess an external data source 170 via a network 10 (e.g., the Internet)in any suitable manner (e.g., crawlers, user permission/API, and thelike).

In embodiments, the platform 100 interacts with content publishingplatforms 180. A content publishing platform 190 may refer to any systemthat publishes content on behalf of individuals and/or organizations.Content publishing platforms may include social networking platforms,blogging platforms, news sites, and the like. In embodiments, a consumermay output content corresponding to an item via a content publishingplatform 190. For example, the consumer may post content related to apurchased item to a social networking platform or may embed the contentinto a blog post. The content may include links to the item (e.g., alink to a webpage or application state corresponding to the item).

In embodiments, the platform 100 interfaces with various user devices190. User devices 190 can refer to any computing device with which auser (e.g., consumer, merchant, manufacturer, provider and the like) canaccess the platform. Examples of user devices include, but are notlimited to, smartphones, tablet computer devices, laptop computingdevices, personal computing devices, smart televisions, gaming consoles,and the like. A user device may access the platform 100 via a website, aweb application, a native application, or the like. In embodiments, theplatform 100 may provide a first graphical user interface to userdevices 190 associated with a seller and a second graphical userinterface to a user device 190 associated with an end user. The firstgraphical user interface may allow a user associated with a seller tooffer items for sale and to create new virtual representationscorresponding to the items for sale. The second user interface may allowusers to purchase tokens corresponding to items for sale, to transfertokens, and/or redeem tokens. In some embodiments, the platform 100 maysupport a digital wallet that stores the tokens of a user. The digitalwallet may be a client application that is provided and/or supported bythe platform 100. In embodiments, the digital wallet stores any tokensthat are owned by the user associated with the digital wallet andprovides an interface that allows the user to redeem, transfer, sell,exchange, or otherwise participate in transactions involving the token.

In embodiments, the tokenization of items provides a framework forsecurely transacting with respect to an item represented by the token.For example, a token provides a mechanism by which an item may betraded, rented, purchased, sold, exchanged, gifted, swapped, ortransferred in transactions involving trusted or untrusted parties. Insome embodiments, a token represents a single unit to be transacted(e.g., sold, traded, leased, gifted, or the like). For example, if amerchant is selling ten widgets, the platform 100 may generate tentokens, where each token corresponds to a different widget. In thisscenario, all ten widgets may correspond to the same virtualrepresentation of the widget, and the ten tokens may represent instancesof the virtual representation (also referred to as a “virtual asset”).In embodiments, a token may be a digitally signed instance of thevirtual representation of an item, whereby the digital signature may beused to verify the validity of the token.

In embodiments, each virtual representation of an item may include or beassociated with a smart contract that, for example, provides a set ofverifiable conditions that must be satisfied in order to self-execute atransaction (e.g., transfer of ownership or expiration) relating to anitem represented by the virtual representation. In embodiments, eachtoken corresponding to a virtual representation may be associated withthe smart contract that corresponds to the virtual representation. Inembodiments, a smart contract corresponding to a virtual representationmay define the conditions that must be verified to generate new tokens,conditions that must be verified in order to transfer ownership oftokens, conditions that must be verified to redeem a token, and/orconditions that must be met to destroy a token. A smart contract mayalso contain code that defines actions to be taken when certainconditions are met. When implicated, the smart contract may determinewhether the conditions defined therein are satisfied, and if so, toself-execute the actions corresponding to the conditions. Inembodiments, each smart contract may be stored on and accessed on thedistributed ledger. In some embodiments, tokens that do not have a smartcontract associated therewith may be referred to as placeholder tokens,such that a placeholder token may not be involved in a transaction. Inembodiments, tokens can be gifted. In embodiments, recipients of agifted token may redeem the token, customize the virtual assetrepresented by the token before redemption, exchange it for anothertoken, obtain the cash value equivalent, and the like.

Once the platform 100 generates a token, the platform may update thedistributed ledger to indicate the existence of a new token. As usedherein, a distributed ledger may refer to an electronic ledger thatrecords transactions. A distributed ledger may be public or private. Inembodiments where the distributed ledger is private, the platform 100may maintain and store the entire distributed ledger on computing devicenodes 160 associated with the platform. In embodiments where thedistributed ledger is public, one or more 3rd party computing nodedevices 160 (or “computing nodes”) that are not associated with theplatform 100 may collectively store the distributed leger. In some ofthese embodiments, the platform 100 may also locally store thedistributed leger and/or a portion thereof. In embodiments, thedistributed ledger is a blockchain (e.g., an Ethereum blockchain).Alternatively, the distributed ledger may comport to other suitableprotocols (e.g., hashgraph, Byteball, Nano-Block Lattice, and IOTA). Bystoring tokens on a distributed ledger, the status of that token can beverified at any time by querying the ledger and trust that it iscorrect. By using the token approach to implementation, tokens cannot becopied and redeemed without permission.

In some embodiments, the platform 100 is configured to shard thedistributed ledger, such that there are side chains that fork from amain chain of a distributed ledger. In some of these embodiments, a sidechain may store virtual representations of items having a particularcategory or class. In embodiments, a side chain corresponding to aparticular class of items may store tokens corresponding to itemsbelonging to the particular class and ownership records that indicatethe current and previous ownerships of those tokens. Each time ownershipof a token changes, the side chain containing the implicated token maybe amended to indicate the new owner of the token. In embodiments, sidechains may store media contents that are associated with virtualrepresentations. For example, a side chain may store videos,photographs, audio clips, and other suitable media contents that arereferenced by respective virtual representations.

In addition to item data (e.g., virtual representations), tokens, andtransaction data relating to the tokens, the distributed ledger mayfurther store account information. For example, in embodiments thedistributed ledger may store the public addresses of each valid account.In embodiments, a valid account may belong to an entity that is verifiedand authorized by the platform to participate in a transaction. Thus, inembodiments, a party may only sell, purchase, gift, receive, orotherwise transfer a token if the party has a known account. Eachaccount may be assigned a public key and a private key that may be usedto transact on the platform 100. In embodiments, the address of anaccount may be based on the public key of the account (e.g., the addressmay be a hash value of the public key). These addresses may be stored inthe distributed ledger, such that addresses involved in a transactionmay be verified as corresponding to valid accounts using the distributedledger.

In operation, a seller may instruct the platform 100 to generate virtualrepresentations of one or more respective items, such that each virtualrepresentation represents a respective item that is available for atransaction. It is noted that while many of the examples of transactionsin the disclosure relate to purchases of goods, services, and/orexperiences, transactions may also include leases, rentals, loans,gifts, trades, rewards, or giveaways. In embodiments, the seller mayprovide item attributes relating to a set of one or more items, such asa number of items available for transaction, pricing information of anitem, delivery restrictions for the item, expiries relating to the item(e.g., how long is the transaction valid), an item description, a serialnumber (e.g., of physical items), media relating to the item (e.g.,photographs, videos, and/or audio content), and the like. In response tothe seller providing the item information, the platform 100 generates aset of tokens corresponding to the number of items available fortransaction. For example, if the seller indicates that there are 100Model X widgets available for sale, the platform 100 may generate avirtual representation of the Model X widget and may generate 100non-fungible tokens corresponding to the virtual representation, wherebyeach token corresponds to a respective instance of the virtualrepresentation. The virtual representation may include a description ofthe widgets, a description of the widgets, a price of the widget,shipping restrictions relating to the widgets, photographs of thewidgets, videos of the widget, virtual reality data relating to thewidget, and the like. The platform 100 may then store the virtualrepresentation and the corresponding tokens on the distributed ledger.For each token, the distributed ledger may store the token, ownershipdata relating to the token, media content corresponding to the token (orthe virtual representation to which the token corresponds), and/or othersuitable data relating to the token on the distributed ledger.Initially, the ownership of the token may be assigned to the seller. Assuch, the distributed ledger may indicate the existence of the token andthat the seller owns the token. Once tokenized, end users (e.g., buyers)may participate in transactions for the item using the correspondingtoken. For example, the user may purchase a token corresponding to theitem from the seller via a web interface or application that is providedor supported by the provider of the platform 100. In response to thetransaction, the platform 100 may update the distributed ledger toindicate an assignment of the token to the user (e.g., to a walletassociated with an account of the user). In embodiments, a copy of thetoken may be stored in a digital wallet corresponding to the new ownerof the token (e.g., the buyer).

A token may be transmitted amongst users in any suitable manner. Forexample, a token may be transmitted via email, instant message, textmessage, digital transfer, social media platforms, and the like. In someof these embodiments, the token may be transmitted directly from thesender's user device 190 (e.g., from the user's digital wallet) to auser device 190 (e.g., smartphone) or account (e.g., email account ormessaging application) associated with the intended recipient. Uponinitiating the transmission, the digital wallet may transmit a transferrequest to the platform 100 and may transmit a copy of the token to therecipient's user device 190 or specified account. In some embodiments,the transmitted token may be embedded in a media content, such as animage, emoji, or video, such that the recipient receives the mediacontent and may opt to accept the token. In this example, the token maybe accompanied by a link and/or software instructions that cause theuser device 190 that receives the token to add the token to therecipient's account upon the recipient accepting the token. Uponelecting to accept the token, the user device 190 of the recipient maytransmit a request to the platform to add the token to an account of therecipient. The platform 100 may receive the request and may update theownership record of the token in the distributed ledger to indicate thetransfer of ownership.

In embodiments, an owner of a token may redeem a token. In embodiments,a user may select a token to redeem from a digital wallet of the user.In response to the selection, the digital wallet may transmit a redeemrequest to the platform 100. The redeem request may include the token(or an identifier thereof) and a public address of the user (or anyother suitable identifier of the user). The platform 100 receives theredeem request and verifies the validity of the token and/or theownership of the token. Once verified, the user is granted permission toredeem the token. In some scenarios, the user may be redeeming a tokencorresponding to a digital item (e.g., a gift card, an mp3, a movie, adigital photograph). In these scenarios, the platform 100 may determinea workflow for satisfying the digital item. For example, the platform100 may request an email address from the user or may look up an emailaddress of the user from the distributed ledger. In this example, theplatform 100 may email a link to download the digital item to the user'semail account or may attach a copy of the digital item in an email thatis sent to the user's email account. In another scenario, the user maybe redeeming a token corresponding to a physical good (e.g., clothing,food, electronics, etc.) or a physical service (e.g., maid service). Inthe case of a physical good, the platform 100 may determine a workflowfor satisfying the physical item. For example, the platform 100 mayrequest shipping information from the user or may look up the shippinginformation of the user from the distributed ledger. The platform 100may then initiate shipment of the physical good. For example, theplatform 100 may transmit a shipping request to a warehouse that handlesshipments of the good indicating the shipping information. The foregoingare examples of how a token may be redeemed. The platform 100 mayexecute additional or alternative workflows to handle redemption of atoken.

In embodiments, the token may be printed in physical media, such thatthe token may be redeemed at a brick and mortar location. For example,the token (e.g., an alphanumerical string) may be encoded into a QR-codeor barcode. In these embodiments, the public key of the party that wasused to digitally sign the token (e.g., a public key associated with theplatform 100) may also be provided in the physical media. In this way,the token may be verified by scanning the QR-code or barcode using aclient application associated with the platform 100. The clientapplication may provide the token and the public key to the platform100, which may verify the validity of the token based on the token andthe public key. If the token and ownership are verified, the platform100 may transmit a confirmation of the verification to the clientapplication. A clerk may then allow the user to complete the transaction(e.g., take possession of the item).

In some embodiments, tokens may be perishable, in that they lose allvalue at a predetermined time or upon the occurrence of a predeterminedevent. In these embodiments, the seller may provide an expiry in thevirtual representation that indicates a date and time that the virtualrepresentation is no longer valid, such that when the expiry is reached,the token may be deemed invalid.

Tokens may be fungible tokens or non-fungible tokens. Fungible tokensmay refer to tokens that are interchangeable. For example, fungibletokens may all have the same identifier. Non-fungible tokens are uniquetokens. Non-fungible tokens are transferrable but not interchangeable.

In embodiments, the platform 100 may execute one or more of: amarketplace system 102, a ledger management system 104, a transactionsystem 106, an API system 108, an intelligence and automation system110, an analytics and reporting system 112, and/or virtual worldpresence system 114, all of which are discussed in greater detailthroughout this disclosure.

In embodiments, the platform 100 provides a marketplace system 102 thatallows virtual representations of items to be defined, generated,viewed, and/or redeemed. In embodiments, the marketplace system 102 mayinclude graphical user interfaces that: allow sellers to define virtualrepresentations, allow consumers to view virtual representations ofitems and to transact for tokens corresponding to the items, and allowtoken owners to redeem tokens, thereby completing transactions for itemsindicated by the redeemed tokens. The marketplace system 102 may furtherinclude backend functionality for supporting these operations.

In embodiments, the platform 100 provides a ledger management system 104that generates tokens and manages one or more distributed ledgers,including managing the ownership rights of the generated tokens. Inembodiments, the ledger management system 104 may also interface withone or more smart contracts that implicate the distributed ledgers.

In embodiments, the platform 100 includes an API system 106 that managesone or more application programming interfaces (APIs) of the platform,so as to expose the APIs to one or more related applications (e.g.,native and/or web applications provided by the platform 100 provider),third party systems that are supported by or otherwise interact with theplatform 100, and smart contracts that are configured to interface withthe platform 100. The API system 106 may expose one or more APIs, suchthat the API system 106 may receive API calls from requesting devices orsystems and/or may push data to subscribing devices or systems. The APIsystem 106 may implement any suitable types of APIs, including REST,SOAP, and the like. In embodiments, the API system 106 may include asmart contract API that allows smart contracts to interface with theplatform, a utility API, a merchant API that allows merchants to createtokens corresponding to virtual representations of items, and any othersuitable APIs. In embodiments, the platform 100 may implement a microservices architecture such that services may be accessed by clients,such as by APIs and/or software development kits (SDKs). The servicesabstract away the complexities of blockchain creation, object handling,ownership transfers, data integration, identity management, and thelike, so that platform users can easily build, deliver and/or consumeplatform capabilities. In embodiments, SDK types include, but are notlimited to: an Android SDK, an iOS SDK, a Windows SDK, a JavaScript SDK,a PHP SDK, a Python SDK, a Swift SDK, a Ruby SDK, and the like.

In embodiments, the platform 100 includes a transaction system 108 thatsupports any suitable transactions relating to the platform, includingthe buying, selling, trading, renting, leasing, exchanging, swapping,transferring, and/or redeeming of tokens that represent correspondingitems.

In embodiments, the platform 100 includes an intelligence and automationsystem 110 that performs machine learning and artificial intelligencetasks. For example, the intelligence and automation system 110 may trainmachine learned models, make classifications and predictions based onthe machine learned models, recommend products to users, identifyadvertisements to target to specific users, match service providers toservice seekers, and/or automate notifications to users.

In embodiments, the analytics and reporting system 112 performsanalytics-related tasks relating to various aspects of the tokenizationplatform 100 and may report the resultant analytics to interestedparties (e.g., employees of the platform provider 100 and/or sellers onthe platform 100).

In embodiments, the platform includes or supports a virtual worldpresence system 114 that provides presents virtual representations ofitems in virtual world environments. For example, the virtual worldpresence system 114 may present a virtual reality store to a user,whereby virtual representations of items are presented in the store andusers can “shop” for the virtual items in the virtual world environment.In these embodiments, the virtual world presence system 114 may render avirtual world environment, which may be displayed at a clientapplication. The virtual world environment may be associated with aseller or a group of sellers, whereby items that are sold by the selleror sellers are made available in the virtual world environment. In theseembodiments, the virtual world presence system 114 may further render 3Drepresentations of items that are available from the seller or sellersbased on the virtual representations of the items. The 3Drepresentations may then be presented in the virtual world environments,such that users can examine the 3D representations of the items (e.g.,look at the representations from different angles). In the event a userwishes to purchase an item, the user may initiate a transaction (e.g.,selecting a “buy” button in the virtual representation). Upon the userinitiating the transaction, the virtual world presence system 114 maynotify the transaction system 106 of the user's selection, and thetransaction may precede in the manner described above.

In embodiments, the platform 100 includes a user management system 116.In embodiments, the user management system 116 may create new useraccounts, assess risk associated with users, provide conditions forusers based on respective risk associated with the users whenparticipating in a transaction, and the like.

In some embodiments, the user management system 116 creates new accountsfor users. In these embodiments, a new user may access the platform 100and may request a new account. In embodiments, the platform 100 mayallow a user to link their account to an account of an external system(e.g., Google®, Facebook®, Twitter®, etc.). Additionally, oralternatively, a user can provide an email address and login. Inembodiments, the user management system 116 may request a user toprovide additional authenticating information, such as a home address orbusiness address, a passport number (and/or image of the passport),driver's license number (and/or an image thereof), state ID card (and/oran image thereof). The user management system 116 may further provide amechanism for a user to link any financial information to the platform,including entering credit card numbers, banking information,cryptocurrency wallets (e.g., Coinbase® account), and the like. Uponreceiving the requested information, the user management system 116creates a new account for the user, including creating a new publicaddress of the account corresponding to the user. Once the account iscreated, the user may begin participating in transactions on theplatform 100.

In embodiments, the user management system 116 determines a risk scoreof a user each time the user attempts to participate in a transactionusing the platform 100. A risk score of a user may indicate a degree ofrisk associated with facilitating a particular transaction involving theuser. Examples of risks may include a risk that a seller will notdeliver an item purchased by another user, a risk that the seller willdeliver a fake or substandard item to another user, a risk that a userwill default on a loan, a risk that the user will engage in fraud, andthe like. Factors that may be relevant to a user's risk score mayinclude, but are not limited to, whether the user has provided secondaryauthentication information (e.g., passport or driver's license), whetherthe user has provided banking information, how many purchases or salesthe user has made on the platform 100, the size of those transactions,how many issues the user has had with previous transactions (e.g., howmany non-payments or non-deliveries, complaints, etc.), whether the userhas defaulted on a loan facilitated by the platform, and the like.

In some embodiments, the user management system 116 may determine therisk score using a risk scoring model trained to assess risks associatedwith the user given a transaction. Upon a user attempting to engage in atransaction, the user management system 116 may determine the featuresof the transaction (e.g., type of transaction, the size of thetransaction, etc.) and the features of the user (the outcomes of theuser's previous transactions, the types of those transactions, whetherthe user has provided secondary authentication information, whether theuser has provided banking information, whether the user has had issuesin the past, etc.). For example, when a user requests to sell an item,requests a collateralized loan, or the like, the user management system116 may determine a risk score. The user management system 116 mayprovide the features to the intelligence and automation system 110,which may input the features into the risk scoring model. The riskscoring model may output a risk score based on the features, where therisk score indicates a probability that the transaction will besuccessful given the transaction features and user features. Inembodiments, the risk scoring model may be trained by the intelligenceand automation system 110 (e.g., the machine learning system 502 of FIG.5), as is discussed below.

In embodiments, the user management system 116 may impose a set ofconditions on a user requesting to participate in a transaction based onthe risk associated with the user. Examples of conditions may includerequiring a user to place funds in escrow equal to the sale price of anitem to be sold on the platform (e.g., an amount to be refunded if aseller does not provide an item or provides a fake item), requiring auser to provide collateral in excess of a loan amount if there issignificant risk that the user defaults on a loan, requiring a user toprovide secondary authentication information if the user is requesting aloan and has not provided such information, and the like, For example,if the user is requesting to sell an item on the platform 100, but theuser does not have a history of selling items, the risk score associatedwith the potential transaction may indicate that there is a risk thatthe seller will not successfully deliver an item or that the item may befake or in an unsatisfactory condition transaction. In this example, theplatform 100 may require that the user deposit (or have in his or heraccount) an amount of funds that are equal to or greater than sale priceof the item or items that the user wishes to sell. In this way, theplatform 100 may issue a refund to a buyer if the user (i.e., seller)does not successfully complete the transaction. In embodiments, the usermanagement system 116 may implement a set of rules to determine theconditions, if any, to place on a user with respect to a particulartransaction if the user wishes to engage in the transaction. Inembodiments, a rule may define one or more conditions that correspond toparticular types of transactions (e.g., selling, trading, borrowing,etc.) and may define risk score thresholds that trigger the one or moreconditions.

The platform 100 may execute additional or alternative systems as well.For example, in embodiments, the platform 100 may include a gamificationsystem (not shown) that gamifies aspects of the platform 100 and/or arewards system (not shown) that rewards users for participating incertain activities. For example, the gamification system may provide anenvironment where users are challenged to compete for the most sharedvirtual items on social media platforms. In this example, the rewardssystem may reward users with tokens to redeem items when the users aredeemed to have shared the most virtual items on the social mediaplatforms. In another example, the rewards system may issue rewards(e.g., tokens to certain items) to a user when the user purchases acertain value or amount of virtual items.

In embodiments, the platform 100 can include a logistics system (notshown) that enables the physical delivery of an item, such as a good orfood. The logistics system may be configured to manage the logisticsfrom the source location of the item (e.g., a warehouse or restaurant)to the redeemer of the token (e.g., the house or current location of theredeemer). In embodiments, the logistics system may include ageolocation system (not shown) for determining delivery location. Forexample, if an owner of a token corresponding to a pizza with onetopping from a pizza delivery chain redeems the token, the geolocationsystem may determine the recipient's current location for delivery.Geolocation information may be acquired by a smart phone, web browser(e.g., IP address), or the like. In this example, the logistics systemmay generate an electronic notification based on the user's geolocation(or a selected delivery location) and the user's order (e.g., the user'sselected topping) and may transmit the electronic notification to alocation of the pizza delivery chain that is closest to the intendeddelivery location.

FIG. 2 illustrates an example of a marketplace system 102 according tosome embodiments of the present disclosure. In embodiments, marketplacesystem 102 may include an item management system 202, a buyermarketplace system 204, and a redemption system 206.

The item management system 202 allows a seller of an item to define avirtual representation of an item. In embodiments, the item managementsystem 202 presents a GUI to a user device 190 of the seller that allowsthe seller to define the attributes of the item. In the case that theitem has never been sold on the platform 100, the seller can select anoption to add a new item. In response to doing so, the seller mayprovide an item classification that indicates the type of item (e.g.,“shoes,” “pizza,” “photograph,” “movie,” “concert tickets,” “gift card,”and the like) and a name of the item. The seller may then define one ormore additional attributes of the item. For example, in embodiments, theseller may provide an item description, media contents associated withthe item (e.g., photographs, videos, audio clips, and the like),relevant links (e.g., a link to a website of the seller), a price of theitem, restrictions relating to the item (e.g., “US shipping only” or“seller store hours are 10-6”), redemption instructions (e.g., whetherin store redemption is allowed, permitted, or mandatory, whether digitalassets are downloaded or emailed, whether the items are transferrable,and the like), a number of the item that are available for transaction(e.g., how many units are available), and/or any other suitableattributes. In response to the seller providing the item attributes, theitem management system 202 may generate a virtual representation of theitem. In embodiments, the virtual representation may be a data recordthat includes the attributes of the item. In the scenario where thevirtual representation was previously defined, the seller may select thepreviously defined item and may update one or more attributes. Forexample, the seller may provide additional media contents, may alter theprice, and/or may update the number of items that are available. Whetheran updated virtual representation or a newly defined virtualrepresentation, the item management system 202 may output the virtualrepresentation to the ledger management system 104, where the ledgermanagement system 104 may tokenize instances of the virtualrepresentation to obtain a set of tokens.

In some embodiments, the item management system 202 may allow the sellerto provide seller attributes as well. The seller may provide informationsuch as a physical location where physical items may be shipped from, adigital location where digital items may be retrieved from, physicallocations of the seller's brick and mortar stores, hours of operation ofthe seller, and the like. These attributes may be included in thevirtual representation or may be stored in an alternate date record.

In embodiments, the item management system 202 may include an asset typemanager for creating and defining new types of items to enable theplatform 100 to support the sale and trade of the new type of asset. Inthese embodiments, the asset type manager may provide a GUI that allowsa user to define a new type of asset. In these embodiments, an assettype attributes field allows users to add information specific to newasset types as they are being defined. Attribute information can beunderstood as information material to purchasers in making a buyingdecision and must be information specific to an asset type andinformation capable of being displayed on the platform. Asset typeattribute fields include, but are not limited to, an asset type name, anasset type image, an asset redemption URL, an asset descriptor (e.g.,physical or digital), and the like.

In embodiments, the item management system 202 may include an item typedefinition manager for defining new types of items so that they can belisted on the platform. In embodiments, the item type definition managermay provide a GUI that allows a user to define attributes of a new item.To define a new item type, a user may be prompted to select anappropriate asset type from the dropdown menu. The GUI may then allow auser to define the item attributes in item attribute fields. Itemattribute fields may include, but are not limited to, an item name, anitem description, item notes, an item image, item pricing data (e.g.,suggested price, suggested floor price), an instant sell flag, an itemURL that links to a webpage for purchasing the item, a quantity ofitems, and the like. When a user provides the requisite item attributes,the item management system 202 may create a new virtual representationdefining the new item.

In some embodiments, the item management system 202 may require sellerswithout adequate history to escrow an amount of funds equal to the valueof the goods being sold on the tokenization platform 100. The seller maysell a token representing an item, and when the token is redeemed by thetoken owner (e.g., the buyer or downstream recipient), the funds areremoved from escrow and returned to an account of the seller. In theseembodiments, the seller does not need to escrow the physical item, whichrequires at least one additional shipment to be made to a warehouse orother storage facility.

In embodiments, the buyer marketplace system 204 allows a consumer tobrowse or search for items, view virtual representations of items, andengage in transactions for the items. In embodiments, the buyermarketplace system 204 presents a GUI that includes a search bar thatallows users to enter a search query comprised of one or more searchterms. In response to receiving the search query, the buyer marketplacesystem 204 may query one or more indexes that index virtualrepresentations using one or more of the search terms. The buyermarketplace system 204 may process the search query and perform thesubsequent search using any suitable search techniques. In response toperforming the search, the buyer market place system 204 may retrievethe virtual representations implicated by the search and may present thevirtual representations in a visual manner. For example, the GUI maydisplay a search engine results page (SERP) that displays one or moresearch results, where each search result corresponds to a differentvirtual representation and links to a respective page where the user canview the attributes of the item as defined in the virtual representationof the item, including any media contents associated with the item andthe price of the item, and can elect to purchase a token correspondingto the item.

In embodiments, the buyer marketplace system 204 may allow users tobrowse virtual items offered on the platform. For example, the buyermarketplace system 204 may present a GUI that allows a consumer tofilter items by category or by other attributes. The GUI may allow auser to select a link corresponding to an item, which directs the userto a page where the user can view the attributes of the item as definedin the virtual representation of the item, including any media contentsassociated with the item and the price of the item, and can elect topurchase a token corresponding to the item.

In embodiments, when the consumer elects to purchase an item, the buyermarketplace system 204 may notify the ledger management system 104regarding the purchase. The buyer marketplace system 204 may provide theledger management system 104 with the public address of the user and anidentifier of the virtual representation of the selected item. Theledger management system 104 may effectuate the transaction by assigninga token from the set of tokens corresponding to the virtualrepresentation to the account associated with the public address of theuser and updating the distributed ledger to indicate the change ofownership of the assigned token to the public address of the user. Forexample, the buyer marketplace system 204 (or the transaction system106) may identify a token that is currently owned by the seller and maytransfer ownership of the token to an account of the buyer. Once thisoccurs, a copy of the token may be deposited into an account of theuser. For example, the token may be deposited in a digital wallet of theuser.

In embodiments, the buyer marketplace system 205 may depict items asindividual thumbnail images. In some of these embodiments, a simple boxstyle user interface element can be added to the Item detail pages todisplay the attributes of an item, including an item descriptionattribute, item notes attributes, and a seller URL attribute. An itemdescription field on the GUI can support clickable URLs that canredirect platform users to pages with more information about the productor other relevant pages. The item description textbox can be displayedand support links to third-party domains.

In embodiments, the buyer marketplace system 204 may allow users topurchase made-to-order items. For example, a user may order a customizedpizza, piece of furniture, flower arrangement, or the like. Users candigitally build items consisting of multiple items from multiplemerchants and have it 3D printed at a 3D printing station.

FIG. 3 illustrates an example of a ledger management system 104 of thetokenization platform 100 that manages one or more distributed ledgers210 in accordance with some implementations of the present disclosure.In embodiments, the ledger management system 104 includes a tokengeneration system 302, a ledger update system 304, and a verificationsystem 306. The token generation system 302 may be configured togenerate tokens that correspond to items made available for transactionand that are based on respective virtual representations of the items.The ledger update system 304 receives requests to update the distributedledger 310 and updates the distributed ledger accordingly 310. Theverification system 306 receives requests to verify a token, an account,or the like and attempts to verify the token or account based on thedistributed ledger.

In embodiments, the distributed ledger 310 may be a public ledger, suchthat N node computing devices 160 store N respective copies of theledger 310, where each copy includes at least a portion of thedistributed ledger 310. In other embodiments, the distributed ledger 310is a private ledger, where the ledger is distributed amongst nodes undercontrol of the platform 100. In embodiments, the distributed ledger 310is a blockchain (e.g., an Ethereum blockchain comporting to the ETCprotocol). Alternatively, the distributed ledger 310 may comport toother suitable protocols (e.g., Hashgraph, Byteball, Nano-Block Lattice,or IOTA). By storing tokens on a distributed ledger 310, the status ofthat token can be verified at any time by querying the ledger and trustthat it is correct. By using the token approach to implementation,tokens cannot be copied and redeemed without permission.

The distributed ledger 310 may store any suitable data relating to anitem, a user, a seller, and the like. In embodiments, the distributedledger 310 may store item-related data. Item-related data may include,but is not limited to, item identifiers, expiration dates of items,conditions or restrictions placed on the items, item descriptions, mediacontent related to items (e.g., photographs, logos, videos, and thelike), documentation of the item, customization options, availablesizes, available colors, available materials, functionality options,ingredients, prices, special offers or discounts relating to the item,location information (e.g., where an item can be delivered/provided),hours available, owner/custodian data, reviews, item type, and the like.In embodiments, the distributed ledger 310 may store user data. Userdata may include, but is not limited to, identifying information (e.g.,user ID, email address, name, and the like), public address, financialinformation (e.g., credit card information), transaction history,location data (e.g., a region of the user or country of the user),preferences, a wish list, subscriptions of the user, items belonging tothe user, user connections or contacts, media content relating to theuser (e.g., photos or videos of the user), an avatar of the user, andthe like. In embodiments, the distributed ledger 310 may storemerchant-related data. Merchant-related data may include, but is notlimited to, identifying information (e.g., a name of the merchant, amerchant ID, and/or the like), contact information of the merchant,experience data, location data, hours available, reviews, media content(photographs, videos, and the like), and/or any other suitablemerchant-related data. A distributed ledger 310 may store additionaland/or alternative data.

In embodiments, the distributed ledger 310 includes side chains 314. Aside chain 314 may refer to a shard of the distributed ledger 310 thatextends from a segment (e.g., a block) of a main chain 312 of the ledger310. In embodiments, the main chain 312 may store data that is relatedto merchants and users with accounts (e.g., public addresses).Additionally, or alternatively, the main chain 312 may store itemclassification data, such as descriptions of item classifications. Inembodiments, a side chain 314 may pertain to a particular classificationof item. In some of these embodiments, side chains 314 may store virtualrepresentations of items belonging to a respective genus or class ofitems and data relating to those items. For example, a first side chain314-1 may store virtual representations of shoes that are available onthe platform 100 and any token-related data relating to those virtualrepresentations. In embodiments, side chains 314 may store mediacontents that are used in connection with items available fortransaction on the platform. For example, a second side chain 314-2 maystore photographs depicting shoes represented in the first side chain314-1, video clips depicting shoes represented in the first side chain314-1, audio clips relating to shoes represented in the first side chain314-1, virtual reality content depicting shoes represented in the firstside chain 314-1, augmented reality content depicting shoes representedin the first side chain 314-1, and the like. The foregoing is one mannerto shard a distributed ledger. The distributed ledger 310 may be shardedin any other suitable manner.

In embodiments, the token generation system 302 receives a virtualrepresentation and generates one or more tokens corresponding to thevirtual representation. In embodiments, the virtual representationincludes attributes of an item, including a number (if bounded) ofavailable items (i.e., the number of items available for transaction).In embodiments, the number of available items indicates the number oftokens that the token generation system 302 generates for a particularvirtual representation. The attributes may also include otherrestrictions relating to the item, such as an expiry of a token (e.g.,how long a token may be valid). The token generation system 302 may alsoreceive initial ownership data. The initial ownership data defines theinitial owner of a token. As a default, the entity offering the itemrepresented by the virtual representation (e.g., the merchant of theitem) is the initial owner of the token. The initial ownership may,however, be assigned to a different entity.

In embodiments, the token is a wrapper that wraps an instance of avirtual representation. In some of these embodiments, the tokengeneration system 302 may generate a token identifier that identifiesthe token. In scenarios where the tokens are non-fungible tokens, thetoken generation system 302 may generate a unique identifier for eachrespective token corresponding to the virtual representation. The tokengeneration system 302 may generate the token identifier using anysuitable technique. For example, the token generation system 302 mayimplement random number genesis, case genesis, simple genesis, and/ortoken bridge genesis to generate a value that identifies the token. Inembodiments, the token generation system 302 may digitally sign thevalue using a private key/public key pair. The token generation system302 may utilize a private key/public key pair associated with theplatform 100 or the merchant to digitally sign the value that identifiesthe token. The token generation system 302 may implement any suitabledigital signature algorithm to digitally sign the value that identifiesthe token, such as the Digital Signature Algorithm (DSA), developed bythe National Institute of Standards and Technology. In embodiments, theresultant digital signature may be used as the token identifier. Foreach token, the token generation system 302 may generate a token wrapperthat includes the token identifier and the virtual representation of theitem. In embodiments, the token generation system 302 may embed orotherwise encode the public key used to digitally sign the token in thetoken. Alternatively, the token generation system 302 may store thepublic key apart from the token, such that the public key iscommunicated to an account of the token owner each time the token istransferred to a new owner. Upon generating a non-fungible token, thetoken generation system 302 may output the non-fungible token to theledger update system 304. The wrapper may wrap a plurality of tokens,including fungible tokens and non-fungible tokens.

In some embodiments, the token generation system 302 may generatefungible tokens. In these embodiments, the token generation system 302may generate identical tokens, where each token has the same tokenidentifier. In these embodiments, the token generation system 302 maygenerate a single token identifier, in the manner described above, andmay generate N fungible tokens using that token identifier, where N isthe number of total tokens. Upon generating the N fungible tokens, thetoken generation system 302 may output the N fungible tokens to theledger update system 304.

In embodiments, the ledger update system 304 is configured to update andmaintain one or more distributed ledgers 310. As used herein, updatingand maintaining a distributed ledger 310 may refer to the writing ofdata to the distributed ledger 310. In embodiments, the ledger updatesystem 304 may generate a block in accordance with the protocol to whichthe distributed ledger comports, where the block contains the data to bewritten to the distributed ledger 310. In embodiments, the ledger updatesystem 304 may update the distributed ledger 310 by broadcasting thegenerated block to the computing nodes 160 that store the distributedledger 310. The manner by which a computing node 160 determines whetherto amend the received block to its local copy of the distributed ledger310 may be defined by the protocol to which the distributed ledgercomports.

In embodiments, the ledger update system 304 receives tokens and updatesthe distributed ledgers 310 based thereon. In some of these embodiments,the ledger update system 304 receives a token and ownership data (e.g.,a public address of the entity to which the token is to be assigned) andupdates the distributed ledger 310 based thereon. For example, theledger update system 304 may generate a block having the token embeddedtherein. The generated block or a subsequently generated block mayinclude the ownership data pertaining to the token. The ledger updatesystem 304 may then write generated block(s) to the distributed ledger310. For example, the ledger update system 304 may amend the block(s) toa copy of the distributed ledger 310 maintained at the platform 100and/or may broadcast the block(s) to the computing nodes 160 that storecopies of the distributed ledger 310, which in turn amend the respectivecopies of the distributed ledger with the broadcast block(s). Inembodiments where the distributed ledger 310 is sharded, the ledgerupdate system 304 may designate a side chain 314 (e.g., an itemclassification) to which the token corresponds. In these embodiments,the generated blocks are amended to the designated side chain 314 toindicate the existence of the token and the current ownership of thetoken.

In embodiments, the ledger update system 304 receives an ownershipchange request requesting to change ownership of a token to anotheraccount. For example, the ledger update system 304 may receive anownership change request in response to a purchase of a token, a giftingof a token, a resale of the token, a trade of a token, and the like. Insome embodiments, the ownership change request may define a token to betransferred and a public address of the transferee of the token (e.g., arecipient of the token). In some embodiments, the ownership changerequest may further include a public address of the current owner of thetoken (assuming the token has a current owner). The ledger update system304 may receive the ownership change request and may generate a block toindicate the new owner of the implicated token. The ledger update system304 may then write generated block(s) to the distributed ledger 310. Forexample, the ledger update system 304 may amend the block(s) to thedistributed ledger 310 and/or may broadcast the block(s) to thecomputing nodes 160 that store the distributed ledger 310. Inembodiments where the distributed ledger 310 is sharded, the ledgerupdate system 304 may designate a side chain 314 (e.g., an itemclassification) to which the token corresponds. In these embodiments,the generated blocks are amended to the designated side chain 314 toindicate the new owner of the token.

In embodiments, the ledger update system 304 receives a new or alteredvirtual representation and updates the distributed ledger 310 to reflectthe new or altered virtual representation. For example, the ledgerupdate system 304 may receive a new visual representation when a sellerdefines a new item that is available for transaction. The ledger updatesystem 304 may receive an altered virtual representation in response toa seller altering one or more attributes of a previously defined virtualrepresentation. In embodiments, the ledger update system 304 receives anew or altered virtual representation and generates one or more blocksbased on the received virtual representation. The ledger update system304 may then write the generated block(s) to the distributed ledger 310based on the generated block(s). For example, the ledger update system304 may amend the block(s) to the distributed ledger and/or maybroadcast the block(s) to the computing nodes 160 that store thedistributed ledger. In embodiments where the distributed ledger 310 issharded, media content pertaining to a virtual representation may bestored in a separate side chain 314. In some of these embodiments, themedia contents may be stored in separate blocks from the virtualrepresentation, where the block containing the virtual representationmay include references to the blocks containing the corresponding mediacontents. The ledger update system 304 may designate a side chain 314(e.g., an item classification) to which the virtual representationcorresponds and a side chain 314 to which the media content block(s)should be corresponds. In these embodiments, the generated blocks areamended to the respective designated side chains 314 to indicate the newor amended virtual representation. The ledger update system 304 may thenwrite generated block(s) to the distributed ledger 310. For example, theledger update system 304 may amend the block(s) to the distributedledger 310 and/or may broadcast the block(s) to the computing nodes 160that store the distributed ledger 310. In embodiments where thedistributed ledger 310 is sharded, the ledger update system 304 maydesignate a side chain 314 (e.g., an item classification) to which theburned token corresponds. In these embodiments, the generated blocks areamended to the designated side chain 314 to indicate the new and/oramended virtual representation(s).

In embodiments, the ledger update system 304 is further configured to“burn” tokens. Burning tokens may refer to the mechanism by which atoken is deemed no longer redeemable. A token may be burned when thetoken expires or when the token is redeemed. In embodiments, the ledgerupdate system 304 may update the ownership of the token to indicate thatthe token is not currently owned (e.g., owner=NULL) and/or may updatethe token state to indicate that the token is no longer valid. In someof these embodiments, the ledger update system 304 may generate a blockindicating that the token is not currently owned or that the state ofthe token is not valid. The ledger update system 304 may then writegenerated block(s) to the distributed ledger 310. For example, theledger update system 304 may amend the block(s) to the distributedledger 310 and/or may broadcast the block(s) to the computing nodes 160that store the distributed ledger 310. In some embodiments, thedistributed ledger 310 is sharded. In these embodiments, the ledgerupdate system 304 may designate a side chain 314 (e.g., an itemclassification) to which the token corresponds. In these embodiments,the generated blocks are amended to the designated side chain 314 toindicate the burned token.

The ledger update system 304 may update the distributed ledger 310 toindicate other data as well. In embodiments, the leger update system 304may maintain and update merchant data and/or user data on thedistributed ledger 310. For example, the ledger update system 304 maymaintain a public address list of valid accounts. The ledger updatesystem 304 may update the cryptographic ledger to reflect new accountsthat are added to the platform 310 with the public addresses of thoseaccounts. The ledger update system 304 may store additional oralternative merchant and user data on the distributed ledger as well.

In embodiments, the verification system 306 verifies data stored on thedistributed ledger 310. In embodiments, the verification system 306 mayverify the validity of tokens and/or may verify the ownership of atoken. The verification system 306 may be configured to validate othertypes of data stored on the distributed ledger 310 as well.

In embodiments, the verification system 306 receives a tokenverification request. The token verification request may include a tokento be verified or a token identifier thereof. In these embodiments, theverification system 306 may determine whether the token identifier ofthe token to be verified is stored on the distributed ledger 310. If itis not stored on the distributed ledger 310, the verification system 306may deem the token to be invalid. In some embodiments, the tokenverification request may further include a public key to be used toverify the token. In these embodiments, the verification module 306 mayuse the received public key to determine whether the public keycorresponds to a token that is stored in the distributed ledger 310. Insome of these embodiments, the verification system 306 use the receivedpublic key and the private key used to encode the digital signature todetermine whether the received public key is the public key used to signthe token. For example, in embodiments, the verification system 306 mayattempt to decrypt the digital signature using the private key and thereceived public key. If the private key and the received public keyenable decryption of the digital signature to obtain the value used togenerate the token, then the verification system 306 may deem the tokenvalid and may notify the requesting system of the verification.

In embodiments, the verification system 306 may be configured to verifythe ownership of a token. In these embodiments, the verification system306 may receive a public address to be verified and a token (or anidentifier thereof). In some embodiments, the verification system 306may verify that the public address corresponds to an account on theplatform 100. For example, the verification system 306 may determinewhether the public address is stored in the public address list on thedistributed ledger 310. If so, the verification system 306 may determinewhether the ownership data relating to the token is currently owned bythe account indicated by the received public address. If so, theverification system 306 may verify the ownership of the token and mayoutput the verification to the requesting system.

FIG. 4 illustrates an example of a transaction system 106 of thetokenization platform 100, according to some embodiments of the presentdisclosure. In some embodiments, the transaction system 106 include atoken transfer system 402 and a redemption system 404. The transactionsystem 106 may include additional or alternative systems withoutdeparting from the scope of the disclosure. For example, the transactionsystem 106 may include a digital wallet system 408, an express tradingsystem 410, a payment integration system 412, a subscription system 414,and/or a token bridging system 416.

In embodiments, the token transfer system 402 facilitates the transferof tokens from an account of an owner of the token an account of adifferent user. In embodiments, token transfer system 402 may includesmart contracts that define the conditions under which a token may betransferred. In some of these embodiments, smart contracts may reside intokens, such that the smart contract may execute at a node computingdevice and/or from a digital wallet. In some of these embodiments, asmart contract may interface with the token transfer system 402 via asmart contract API that is exposed by the API system 108.

In embodiments, the token transfer system 402 receives a transferrequest that requests a transfer of a token to an account. A transferrequest may be received from an account of the token holder or from theaccount of the intended recipient of the token. In embodiments, thetransfer request may include a public address of the account to whichthe token is to be transferred and may further include or indicate thetoken to be transferred. For example, the transfer request may include acopy of the token or a value (e.g., an alphanumeric string) thatuniquely identifies the token. In some embodiments, the transfer requestincludes a public key of the entity that digitally signed the token. Insome embodiments, the transfer request may include a public address ofthe token owner that is requesting to transfer the token.

The token holder may initiate the transfer of a token from the digitalwallet of the token holder. In some embodiments, transfers of tokens maybe performed via the platform 100. In these embodiments, the token ownermay initiate a transfer of the token by instructing the digital walletto send a transfer request to the token transfer system 402 (e.g., via aGUI of the digital wallet). In these embodiments, the token transfersystem 402 may receive the transfer request and may determine whetherthe token is a valid token, and whether the public address of the ownerand/or the recipient are valid. If the token is valid and the publicaddresses of the owner and/or the recipient are valid, the tokentransfer system 402 may transmit a copy of the token to a user deviceand/or account associated with the intended recipient. Once accepted bythe recipient, the token transfer system 402 may instruct the ledgermanagement system 104 to update the distributed ledger to indicate thechange of ownership of the token, such that the distributed ledgerindicates that the recipient is the current owner of the token.

Referring now to FIG. 7A, an illustration of a wallet 700 display isshown. The display of the wallet 700 includes a plurality of tokens,such as tokenized tokens 702 a-702 n (generally 702), non-fungibletokens 704 a-704 n (generally 704), and fungible tokens 706 a-706 n(generally 706). As can be seen, in embodiments, the tokens are groupedby token type. The tokenized tokens 702 may include displayed indicia703 communicating the type and, in embodiments, the amount of particularcontents 705 contained within the respective tokenized token 702. Forexample, the user's Bitcoin within the platform 100 may split among afungible token 706 a balance and one or more tokenized tokens 702 a.Moreover, the fungible Bitcoin 706 a may be a consolidated balance ofthe user's fungible bitcoin 706 a, or may be separate balances (e.g.,balance equal to amount of bitcoin transferred into the platform 100 ina single transaction).

The non-fungible tokens 704 may include display indicia to communicatepertinent information related to the token. For example, a plurality ofpurchasable skins 704 a, 704 b and work-for-hire 704 may be groupedtogether, and each may display indicia such as an image of the good. Thefungible tokens 706 a-706 n are tokens corresponding with fungiblegoods. For example, the fungible tokens 706 a-706 n may includecurrencies, cryptocurrencies, commodities, etc.

In embodiments, the digital wallet is configured to transmit the tokendirectly to a user device 190 or account (e.g., an email account, anaccount on a 3rd party messaging app), whereby the recipient of thetoken may accept the token. In some of these embodiments, the digitalwallet of the recipient may transmit a transfer request to the tokentransfer system 402 indicating a request to transfer the token to therecipient, in addition to sending a copy of the token to the intendedrecipient. In these embodiments, the token transfer system 402 maydetermine whether the token is a valid token and whether the publicaddress of the owner and/or the recipient are valid. If the token isvalid and the public addresses of the owner and/or the recipient arevalid, the token transfer system 402 may allow the recipient to acceptthe token into a respective digital wallet of the recipient. Onceaccepted by the recipient, the token transfer system 402 may instructthe ledger management system 104 to update the distributed ledger toindicate the change of ownership of the token, such that the distributedledger 310 indicates that the recipient is the current owner of thetoken.

Alternatively, in some embodiments, the digital wallet of the tokenowner does not transmit a transfer request to the token transfer system402. In these embodiments, the user device 190 of the recipient of atoken may present a mechanism by which the token owner may accept thetoken. For example, the user device 190 may present a link to accept thetoken. Upon the intended recipient accepting the token, the user device190 (e.g., via an instance of the digital wallet of the recipient) maytransmit the transfer request to the token transfer system 402. In thisscenario, the token transfer system 402 may determine whether the tokenis a valid token and whether the public address of the owner and/or therecipient are valid. If the token is valid and the public address of theowner and/or the recipient are valid, the token transfer system 402 mayinstruct the ledger management system 104 to update the distributedledger to indicate the change of ownership of the token, such that thedistributed ledger indicates that the recipient is the current owner ofthe token.

As discussed, in response to a transfer request, the token transfersystem 402 may determine whether the token is a valid token and whetherthe public address of the owner and/or the recipient are valid. Inembodiments, a token may be validated using a public key associated withthe token. For example, the token transfer system 402 may provide thetoken (or an indicator thereof) and a public key indicated in thetransfer request to the ledger management system 104. The ledgermanagement system 104 may determine whether the token identifier isstored on the distributed ledger, and if so, may verify that the publickey provided with the transfer request is the public key that was usedto digitally sign the token. In embodiments, the token transfer system402 may validate the identities of the recipient and/or the token ownerwishing to transfer the token using the public addresses thereof. Insome of these embodiments, the token transfer system 402 may provide thepublic address of the recipient and/or the public address of the tokenowner to the ledger management system 104, which may in turn look up therespective public address to verify that the public address is stored onthe distributed ledger. In response to determining that the token isvalid and the public addresses of the token owner and/or the recipientare valid, the token transfer system 402 may allow the transfer of thetoken and may instruct the ledger management system 104 to update thedistributed ledger to indicate the change of ownership of the token,such that the distributed ledger indicates that the recipient is thecurrent owner of the token.

In embodiments, the redemption system 404 allows an owner of a token toredeem the token. The redemption system 404 may receive a request toredeem (or “redemption request”) the token. The redemption request mayinclude the token or an identifier of the token (e.g., an alphanumericstring) and may include a public address of the user attempting toredeem the token. In embodiments, the redemption request may furtherinclude the public key used to digitally sign the token. In response toreceiving the redemption request, the redemption system 404 may providethe token, the public address of the user attempting to redeem thetoken, and the public key used to digitally sign the token to the ledgermanagement system 104. The ledger management system 104 may then eitherverify or deny the token/public address combination. The ledgermanagement system 104 may deny the combination if the token is not avalid token and/or the user is not the listed owner of the token. Theledger management system 104 may verify the token/public addresscombination if the token is deemed valid and the requesting user isdeemed to be the owner of the token.

In response to verifying the token/public address combination, theredemption system 206 may execute a workflow corresponding to thevirtual representation to which the redeemed token corresponds. Forexample, in some scenarios, the user may be redeeming a tokencorresponding to a digital item (e.g., a gift card, an mp3, a movie, adigital photograph). In these scenarios, the redemption system 404 maydetermine a workflow for satisfying the digital item. For example, theredemption system 404 may request an email address from the user or maylook up an email address of the user from the distributed ledger. Inthis example, the redemption system 404 may email a link to download thedigital item to the user's email account or may attach a copy of thedigital item in an email that is sent to the user's email account. Inanother scenario, the user may be redeeming a token corresponding to aphysical good (e.g., clothing, food, electronics, etc.) or a physicalservice (e.g., maid service). In the case of a physical good, theredemption system 404 may determine a workflow for satisfying thephysical item. For example, the redemption system 404 may present a GUIto the user that allows the user to enter shipping information of theuser. Alternatively, the redemption system 404 may look up the shippinginformation of the user from, for example, the distributed ledger or auser database. The redemption system 404 may then initiate shipment ofthe physical good. For example, the redemption system 404 (or alogistics system) may transmit a shipping request to a warehouse thathandles shipments of the good indicating the shipping information. Theforegoing are examples of how a token may be redeemed.

The redemption system 404 may execute additional or alternativeworkflows to handle redemption of a token. For example, in somescenarios the initial purchaser of the token may not have specifiedcertain parameters of an item that are needed to satisfy thetransaction. For example, if the item is clothing, the initial purchasermay not have specified the size and/or color of the item. In anotherexample, if the item is a food item, the initial purchaser may not havespecified side orders, toppings, drink choices, or the like. If the itemis an experience such as plane tickets or a hotel reservation, theinitial purchaser may not have specified dates of travel. In thesescenarios, the redemption system 404 may present a GUI that allows theredeemer of the token to specify the needed parameters, so that thetransaction may be specified. In response to receiving the parameters,the redemption system 404 may ascribe these parameters to the instanceof the virtual representation or to any other suitable data structurecorresponding to the satisfaction of the transaction (e.g., a deliveryorder, a purchase order, etc.), such that the transaction may besatisfied.

In embodiments, the transaction system 106 includes a digital walletsystem 408 that supports digital wallets. A digital wallet may be tokensthat are owned by an owner of the account associated with the digitalwallet and may provide a graphical user interface that allows the userto view, redeem, trade, transfer, gift, deposit, withdraw, or otherwisetransact with their tokens. In embodiments, the digital wallet system408 provides an instant sell capability, where users can agree to selltokens corresponding to items. For example, the instant sell capabilitymay allow a user to sell items at the rate of 90% of the floor price. Insome embodiments, other users may view some or all of the virtualrepresentation instances owned by the account owner, in accordance withthe user's privacy settings. Users may opt to hide or make privateindividual virtual representations or all virtual representations.

In some embodiments, the platform 100 and/or digital wallet of a usermay provide visual indicia that may be associated with the token whenbeing transferred to another person. For example, the visual indiciathat may be associated with a token may include emojis, images, .gifs,videos, and the like. These visual indicia may be used by the user whentransmitting a token to another user. For example, if the tokencorresponds to a bouquet of flowers and the visual indicia is an emojiof a flower, the user may send the token in a message using the floweremoji. In this example, the user may access the token in the digitalwallet (e.g., via a native application on a user device 190) and mayselect an option to send the token to a recipient. The user may identifythe recipient (e.g., selecting from a list of contacts) and may beprovided an opportunity to type a message. The client application (e.g.,the digital wallet) may present a keyboard that includes the floweremoji, whereby the flower emoji represents the token. In response to theuser selection of the flower emoji and subsequent “sending” of thetoken, the digital wallet application may initiate transmission of themessage that includes the token/flower emoji. In this example, thedigital wallet may also transmit a transfer request to the tokentransfer system 402 indicating that the transferring user has requestedto transfer the token. The transfer request may include a copy of thetoken and a public address of the transferring user. In embodiments, thetransfer request may further include a public address or other indicator(e.g., an email address, a phone number, a user id, or the like) of theintended recipient of the token.

In embodiments, the transaction system 106 includes an express tradingsystem 410 in which users may trade one or more assets withoutexchanging money. In these embodiments, the express trading system 410provides a mechanism by which users can safely trade tokens, where eachtoken represents a different item. In an example operation, a first usermay make a trade offer in a smart contract to a second user to exchangeone or more tokens for one or more tokens in return. The second user mayaccept by transferring the requested virtual asset. The smart contractthen marks the transaction as completed. In embodiments, the expresstrade system 410 may provide a GUI that allows a user to view aninventory of tokens, create offers, accept offers, and/or cancel offers.

In embodiments, the transaction system 106 includes a paymentintegration system 412. The payment integration system 412 allows a userto purchase a token corresponding to an item.

The payment integration system 412 may accept credit cards, differentforms of currency, and/or cryptocurrency.

In some embodiments, the transaction system 106 includes a subscriptionsystem 414. In these embodiments, users can subscribe to a service toreceive items that they consume regularly via the subscription system414.

In embodiments, the transaction system 106 includes a ledger bridgingsystem 416. The ledger bridging system 416 provides a framework tosecure or lock down an original virtual asset in a first decentralizedledger system (or any holder of currency, including traditional banks)and creating a tradeable duplicate in a second decentralized ledgersystem. In this way, users may fund their accounts on the tokenizationplatform 100 with different currencies and different transfer vehicles,and may then engage in transactions (e.g., trade, gift, or redeem) usingthe different currencies. In some embodiments, the decentralized ledgerbridging system 416 provides an escrow function across decentralizedledger systems (e.g., ledger systems that are separate and apart fromthe distributed ledgers 310 of the platform 100). In embodiments, theledger bridging system 416 or a digital wallet may provide a tokendeposit GUI and/or a token withdrawal GUI.

In embodiments, the ledger bridging system 416 allows a user to fundtheir account with one or more external currencies. For example, a usermay fund an account with Bitcoin, Ethereum coins, other suitablecryptocurrencies, and/or traditional currencies (e.g., U.S. Dollars,British Pounds, Euros, Chinese Yuan, Japanese Yen, and/or the like). Inthe case of cryptocurrencies, a user may facilitate a transfer ofcryptocurrency from an external account, for example, using anon-affiliated digital wallet that stores the user's cryptocurrency. Inthe case of traditional currencies, a user may transfer funds into hisor her account using, for example, a credit card, a direct moneytransfer, an ACH transfer, or the like. In some embodiments, when theuser transfers funds (cryptocurrency or traditional currency) into anaccount with the tokenization platform 110 (which may be referred to asa “funding transaction”), the ledger bridging system 416 may generate arecord corresponding to the funding transaction and may provide therecord to the ledger management system 104, which may update thedistributed ledger to reflect the funding transaction. The record mayindicate the account to which the funds were transferred, the accountfrom which the funds were transferred, an amount that was transferred, adate and time of the transfer, and/or any other suitable data.

Once an account is funded, a user can then use the transferred funds toparticipate in any transaction on the tokenization platform 100. In someembodiments, at least a subset of the transferred funds is tokenized ina manner that comports with the protocol supported by the tokenizationplatform 100 and/or the distributed ledger 312 corresponding thereto. Inembodiments, the ledger bridging system 416 may tokenize one or morecrypto coins (e.g., a bitcoin), any fraction of crypto coins, or anyamount of currency in response to a request corresponding to the user.The request to tokenize funds may be an explicit request or an implicitrequest. An explicit request may refer to when the user specificallyrequests the tokenization of a certain amount of currency. An implicitrequest may refer to when the user engages in a transaction on thetokenization platform 100 that implicates the transferred funds in theuser's account, such that at least a portion of those funds need to betokenized to facilitate the transaction (e.g., the user purchases anitem and elects to pay for the item using some of the transferred fundsin the user's account. Regardless of whether the request is implicit orexplicit, the ledger bridging system 416 may tokenize the certain amountof currency.

In some of these embodiments, the ledger bridging system 416 tokenizes aspecified amount of currency by minting a tokenized token that “wraps”the certain amount of currency. A tokenized token may refer to anon-fungible token that has attributes that define the type of currencyand an amount of currency represented by the coin (e.g., an amount ofbitcoin, ethereum, dollars, pounds, or the like). In some of theseembodiments, a tokenized token may refer to a non-fungible token thathas a set of attributes defining characteristics of such token inaddition to having a set of fungible and/or non-fungible tokensrepresenting digital currency balance(s) enclosed within a tokenizedtoken and/or other digital item(s). In addition, tokenized token cancontain business rules governing redemption, transfer and othertokenized token lifecycle mechanisms. In some embodiments, the ledgerbridging system 416 mints the new token by requesting the generation ofa new token by the token generation system 302. The ledger bridgingsystem 416 may provide the type of currency, the amount of currency, andownership data (e.g., the account to which the new tokenized token willbelong) to the token generation system 302. In response, the tokengeneration system 302 generates a tokenized token, for example, in themanner described above. In this way, the token generation system 302treats the currency as an “item.” In this way, a tokenized token may beexchanged (e.g., for other tokenized tokens or tokenized items), gifted,and/or redeemed. In some embodiments, the types of transactions that atokenized token may participate in may be restricted. For example,tokenized tokens representing unstable currencies may be restricted frombeing exchanged, but may be redeemed or gifted.

In embodiments, the ledger bridging system 416 further generates avisual indicium corresponding to the tokenized token as part of theminting process. In some embodiments, the visual indicia is a digitalsticker (or “sticker”). For example, in some embodiments, the stickermay depict an amount and a symbol representing the currency (e.g., asticker representing a tokenization of five dollars may depict “$5”, ora sticker representing a tokenization of a tenth of a bitcoin may depict“

5”). In this way, the sticker may be displayed in a wallet of an ownerof the tokenized token. As discussed, the visual indicia may be used toconvey to a user the tokenized tokens that the user owns. Additionally,in some embodiments, the visual indicia may be used to transfertokenized tokens to other parties (e.g., via text message, messagingapplications, email, and the like), as is described elsewhere in thedisclosure.

In some embodiments, the ledger bridging system 416 may instantiate (orrequest the instantiation of) a smart contract corresponding to thetokenized token as part of the minting process. In these embodiments,the smart contract may define one or more base functionalities thatgovern the tokenized token lifecycle mechanisms such as ownershiptransfer and/or redemption logic. The base functionalities may includethe ability to change ownership of the tokenized token, the types oftransactions in which the tokenized token may be used (e.g., to makepurchases, to gift, to exchange, to redeem for cash, etc.), and thelike. Upon a new tokenized token being minted, the ledger bridgingsystem 416 may instantiate an instance of the smart contractcorresponding to the newly minted tokenized token. The instance of thesmart contract may execute each time the tokenized token is involved ina transfer (e.g., exchanged, gifted, or redeemed). For example, eachtime an owner of the tokenized token requests to transfer the tokenizedtoken, the instance of the smart contract may be implicated by therequest and the instance of the smart contract can either disallow orfacilitate the transfer depending on the contents of the request and thesmart contract.

Once a tokenized token is minted, the funds represented by the tokenizedtoken may be “escrowed” by the ledger bridging system 416. In this way,the user is prevented from removing funds from his or her account untilthe tokenized token is redeemed. In some embodiments, the ledgerbridging system 416 may transfer the funds corresponding to thetokenized token from the account of the user to a designated escrowaccount. Alternatively, the ledger bridging system 416 may freeze thefunds corresponding to the tokenized token, such that the funds may notbe transferred by the user until the tokenized token is redeemed. Once atokenized token is redeemed, the funds represented by the tokenizedtoken may be released from escrow, deposited into the account of theredeeming user, and the tokenized token may be destroyed (also referredto as being “invalidated”).

In embodiments, the ledger bridging system 416 updates, or initiates theupdate of, the distributed ledger. The distributed ledger may be updatedupon a number of different occurrences. As discussed, in embodiments,the distributed ledger may be updated when a user initially funds anaccount. In embodiments, the ledger bridging system 416 updates (orinitiate the update of) the distributed ledger upon a new tokenizedtoken being minted. In these embodiments, the distributed ledger isupdated to reflect the existence of the new tokenized token and theownership of the token. In embodiments, the ledger bridging system 416updates (or initiate the update of) the distribute ledger with theinstance of the smart contract corresponding to the tokenized token. Inembodiments, the ledger bridging system 416 may update (or initiate theupdate of) the distributed ledger each time a tokenized token istransferred. In these embodiments, the distributed ledger may be updatedto reflect the new owner of the tokenized token. In embodiments, theledger bridging system 416 may update (or initiate the update of) thedistributed ledger when a tokenized token when the token is redeemed andsubsequently destroyed. In these embodiments, the distributed ledger maybe updated to reflect that the tokenized token is no longer valid, theaccount that redeemed the token, and/or when the token was redeemed.

FIG. 5 illustrates the intelligence and automation system 110 accordingto some embodiments of the present disclosure. In embodiments, theplatform includes an intelligence and automation system 110. Theintelligence and automation system 110 may include a machine learningsystem 502, an artificial intelligence system 504, a recommendationengine 506, a service matching engine 508, an advertising system 508,and/or a notification system 510.

In embodiments, the machine learning system 502 may trainmachine-learning models based on training data. Examples of machinelearned may include various types of neural networks, regression-basedmodels, hidden Markov models, scoring models, and the like. The machinelearning system 502 may train models in a supervised, semi-supervised,or unsupervised manner. Training can be done using training data, whichmay be collected or generated for training purposes. The machine learnedmodels may be stored in a model datastore.

In an example, the machine learning system 502 may be configured totrain a gift prediction model. A gift prediction model (or predictionmodel) may be a model that receives recipient attributes (e.g., aprofile relating to an intended recipient) and/or item attributes of oneor more items that may be provided as a gift and that outputs one ormore predictions regarding sending a gift token to that particularconsumer. Examples of predictions may be whether to send a gift to thatuser, gifts the user would value, and the like. In embodiments, themachine learning system 502 trains a model based on training data. Inembodiments, the machine learning system 502 may receive vectorscontaining user data (e.g., transaction history, preferences, wish listvirtual assets, and the like), virtual asset data (e.g., price, color,fabric, and the like), and outcomes (e.g., redemption, exchanges, andthe like). Each vector may correspond to a respective outcome and theattributes of the respective user and respective item. The machinelearning system 502 takes in the vectors and generates predictive modelbased thereon.

In embodiments, the machine learning system 502 trains risk scoringmodels using training data sets that indicate the features of usersparticipating in a transaction, features of the transaction (e.g., thetype of transaction (e.g., purchase, loan, sale, etc.), the size of thetransaction (e.g., a dollar amount), and the like), and an outcome ofthe transaction indicating whether the transaction was successful orunsuccessful (e.g., did the buyer pay for the item after purchase, didthe borrower pay the loan off or default on the loan, was the purchaseditem delivered and in sufficient condition, etc.). The training datasets may be based on transactions facilitated by the platform and/orgenerated by an expert.

In embodiments, the machine learning system 502 may store the predictivemodels in a model datastore. In embodiments, the machine learning system502 may be further configured to update a model based on capturedoutcomes, which is also referred to as “reinforcement learning.” Inembodiments, the machine learning system may receive a set ofcircumstances that led to a prediction (e.g., item attributes and userattributes) and an outcome related to the treatment (e.g., redemption ofitem, exchange of item, refund of an item), and may update the modelaccording to the feedback. As used herein, the machine learningtechniques that may be leveraged by the machine learning system include,but are not limited to, decision trees, K-nearest neighbor, linearregression, K-means clustering, deep learning neural networks, randomforest, logistic regression, Naïve Bayes, learning vector quantization,support vector machines, linear discriminant analysis, boosting,principal component analysis, and hybrid approaches.

In embodiments, the artificial intelligence (AI) system 504 leveragesthe machine-learned models to make predictions or classificationsregarding purchasing, gifting, or other e-commerce outcomes with respectto user data and asset data. Examples of predictions include whether auser will purchase an item, whether a user will exchange a gifted item,redemption options such as delivery timing and delivery location, andthe like. For example, the AI system 504 may leverage a gift predictionmodel to make predictions as to whether a recipient of a particular itemwill like a gift, return a gift, or exchange a gift.

In embodiments, the recommendation system 506 may be configured toprovide recommendations to users regarding items. The recommendationsystem 506 may request a recommendation from the AI system 504 based onattributes of a user. The AI system 504 may output a set ofrecommendations and the recommendation system 506 may provide therecommendations to the user or another party. For example, therecommendation system 506 may provide users with recommendations ofitems to purchase based on a purchase history of the user.

In embodiments, an advertising system 508 is configured to determineadvertisements to display to a user, where the advertisements relate toitems that are offered for transaction on the platform. In embodiments,the advertising system 508 may present users with discounts, promotions,and the like.

In embodiments, a services-matching system 510 is configured to matchconsumers to service providers for user-selected services. In theseembodiments, a user may be seeking service, and the service matchingsystem 510 may identify service providers that are best suited toprovide the service. For example, the services matching system 510 maymatch service seekers and service providers based on pricing,availability, location, and the like.

FIG. 6 illustrates the intelligence and automation system 110 accordingto some embodiments of the present disclosure. In embodiments, theanalytics and reporting system 112 is configured to capture and reportanalytics relating to various aspects of the e-commerce platform 100. Inembodiments, the analytics and reporting system 112 may include ananalytics system 602, a reporting system 604, and/or a regulated assetsystem 606. In embodiments, the analytics and reporting system 112 mayprovide an analytics interface that allows a user to access theanalytics and reporting system 112.

In embodiments, the analytics system 602 may track and analyze datarelating to, but not limited to, consumer data, item data, merchant,manufacturer, or provider data; user behavior (e.g., purchase behavior,telemetric, and the like), and transaction events (e.g., when items arepurchased, how items are purchased, how items are transferred, and thelike).

In embodiments, the reporting system 604 reports analytics gained by theanalytics system 602 to one or more parties. Interested parties mayaccess the reporting system 604 and/or may subscribe to receiveanalytics reports. The reporting system 604 may be configured togenerate reports based on the gathered analytics and to provide thereports to interested parties. In embodiments, a regulatory GUI may thenallow regulators to access the platform 100. For example, a regulatormay access the platform to track and monitor a regulated item, such as3D printed firearms.

In embodiments, the analytics and reporting system 112 includes aregulated asset system 606. In embodiments, the regulated asset system606 is configured to manage regulated items. For example, the regulatedasset system 606 may manage access to weapons or firearms,pharmaceuticals, alcohol, tobacco products, food products, event/venueentry, airline tickets, and the like. In embodiments, the regulatedasset system 606 may track and monitor transactions regarding regulateditems and may notify certain regulatory agencies based on thetransactions and a corresponding workflow. In a non-limiting example, atoken could be used to track a 3D printed firearm, where the item thatis purchased would be the model used to print the firearm.

Referring back to FIG. 1, in embodiments, the platform 100 includes avirtual world presence system 114 for representing tokenized physicalworld items within virtual world environments. In some embodiments, thevirtual world environments may depict virtual world avatars. Virtualworld avatars may represent a user (e.g., a potential buyer) and mayinteract with virtual items in a virtual world environment. Users may“shop” by controlling a virtual world avatar in a virtual world store.For example, a virtual world avatar may try on a virtual representationof a tokenized physical world hat in a virtual world dressing room. Insome embodiments, the virtual world presence system may include avirtual reality system that provides a framework for displaying thevirtual world environment. In embodiments, the virtual world presencesystem may also include a virtual asset display system that displaysitems related to a user, including but not limited to: items that areowned by the user, in the custody of the user, desired by the user, andthe like. These items can be displayed publicly to other users or hiddenfrom other users, individually or collectively. In some embodiments, thevirtual asset display system may determine the set of tokens owned by auser to determine the items that are owned or possessed by a user.

In embodiments, the virtual world presence system 114 may include acontent sharing system that allows sharing of content related to virtualassets to content platforms. The content sharing system enables users toshare content related to virtual assets owned by a user or in custody ofuser or desired by user. Users may obtain additional information about avirtual asset or request to purchase, rent, borrow, trade, or the like.The shared content may include data from the virtual world presencesystem. For example, a user may share a video of the user's associatedvirtual world avatar eating a virtual pizza in a virtual pizza parlor.

Referring now to FIG. 8, the tokenization platform 100 may support anumber of different applications and/or provide a number of differentservices. For example, the platform 100 may support collateralizedlending applications, authentication services, “mystery box”applications, casino-gaming services, and video game streaming services.

In embodiments, the platform 100 includes a collateral management system802. The collateral management system 802 allows a borrower to providecollateral and request a loan. In some of these embodiments, a userwishing to borrow money can take a collateral item (e.g., a collectibleitem, jewelry, a firearm, a precious metal, or the like) to a facilityaffiliated or otherwise supported by the platform 100. At the facility,an employee at the facility may inventory the collateral item using aninterface provided by the collateral management system 802. Inventoryingthe collateral item may include requesting an item identifier for thecollateral item, associating the item identifier collateral item with anaccount of the user (i.e., the owner of the collateral item), takinghigh resolution photographs of the collateral item, weighting thecollateral item using a scale, entering a description of the collateralitem, an appraisal of the collateral item, and the like. Onceinventoried, the collateral management system 802 can create a virtualitem representing the collateral item, and then may generate anon-fungible token corresponding to the virtual item (which may bereferred to as a “collateral token”). For example, the collateralmanagement system 802 may request the generation of the virtual item andthe collateral token from the ledger management system 104. Upon thecollateral token being generated, the ledger management system 104 mayupdate the distributed ledger to reflect the new collateral token andthe ownership of the collateral token by the borrower. The collateraltoken may then appear in a digital wallet of the borrower. In someembodiments, the collateral token may be represented by a visualindicium in the digital wallet. The collateral item corresponding to thecollateral token may be stored at the facility until the collateraltoken is redeemed. Once redeemed, the redeeming user (the borrower or atransferee of the collateral token) may pick up the collateral item fromthe facility or the collateral item may be shipped to thereto.

In embodiments, the collateral management system 802 may allow aborrower to seek a loan using the collateral token. In embodiments, thecollateral management system 802 may provide a marketplace (e.g., thatis accessible via a graphical user interface) where the borrower canrequest a loan amount and offer the collateral token as collateral.Lenders (who have accounts with the tokenization platform 100) may thenmake loan offers to the borrower via the marketplace. The loan offersmay specify a loan amount, an interest rate, and a loan length. The loanoffers may include additional conditions as well. For example, a loanoffer may indicate whether the loan can be bought out by another lender,and if so, a payoff amount to buy the loan. The borrower may shopthrough the loan offers and may ultimately decide on a loan offer toaccept.

Once the borrower accepts an offer, the collateral management system 802may instantiate an instance of a smart contract that memorializes theterm of the loan and may escrow the collateral token (e.g., no one canredeem the collateral token or transfer the collateral token withoutcomplying with the smart contract). The smart contract may indicate thelender, the borrower, the collateral token, the loan amount, a paymentschedule, whether the loan is transferrable, when the loan is consideredto be in default, ownership rights of the collateral token upon default,and the like. The ledger management system 104 may update thedistributed ledger to reflect the smart contract.

Once the instance of the smart contract is instantiated, the borrowermust commence repayment of the loan according to the loan schedule. Itis appreciated that the loan schedule may require a single lump sumpayment by a given time or may require multiple payments that are to bemade at predetermined intervals. In embodiments, the borrower may makepayments to the lender via his or her digital wallet. In theseembodiments, the borrower may transfer funds from a bank, credit card, adigital wallet holding other currencies, or the like. The borrower maythen transfer those funds to the lender via the digital wallet. In someembodiments, the ledger bridging system 416 facilitates the transfer offunds from the account of the borrower to an account of the lender.

In embodiments, the collateral management system 802 may deploy alistening thread corresponding to an instance of a smart contractgoverning a loan. A listening thread may listen for payments by theborrower defined in the instance of the smart contract. When a paymentis made, the listening thread may notify the ledger management system104, which updates the distributed ledger to reflect the payment. Duringthis update, the instance of the smart contract is notified of thepayment, which may cause the smart contract to determine whether theloan is fully repaid. If the loan is fully repaid, the smart contractreleases the collateral token to the borrower, bringing the smartcontract to a close. If the loan amount is not repaid, the terms of thesmart contract (e.g., the loan amount and the next repayment) may beupdated based on the payment. If the listening thread does not detect areceipt of a payment before the payment due date, the listening threadmay notify the ledger management system 104 of the missed payment. Inresponse to the notification, the ledger management system 104 mayupdate the distributed ledger to reflect the non-payment, which maycause the smart contract to determine whether the loan is in defaultaccording to the terms of the contract. If the loan is determined to bein default, then the smart contract transfers ownership of thecollateral token to the party specified by the smart contract (e.g., thelender). Once this occurs, the lender may redeem the collateral token,sell the collateral token, gift the collateral token, or exchange thecollateral token, as the lender is now the owner of the collateraltoken.

In embodiments, the collateral management system 802 may provide amarketplace for loans that may be bought or transferred. The marketplacemay present the amount due on a loan, the value of the loan (e.g., theamount that is to be collected when fully paid off), the payment historyof the loan (e.g., whether the borrower is making or missing payments),the collateral item that secures the loan, the price to purchase theloan, and the like. In some embodiments, potential lenders may opt topurchase the loan from the current lender. In these embodiments, thepurchase of the loan causes the collateral management system 802 toterminate the current smart contract and to instantiate a new smartcontract to reflect the new owner or to adjust the smart contract, suchthat payments will be directed to an account of the new lender and todesignate the new lender as the destination of the collateral tokenshould the borrower default. Additionally, or alternatively, theborrower may seek better terms on a loan using the marketplace. Assuminga loan is transferrable, the borrower may list the loan on themarketplace whereby potential lenders can view the borrower's paymenthistory, the remaining balance on the loan, the loan payoff amount, andthe collateral item. Potential lenders may then make loan offers to theborrower with each loan offer having its terms. The borrower can accepta loan offer. In response to the borrower accepting the loan offer, thenew lender must transfer the loan payoff amount to the previous lender,which causes the collateral management system 802 to terminate thecurrent smart contract and to instantiate a new instance of a smartcontract in accordance with the newly accepted terms of the loan offer.

In embodiments, the platform 100 includes an authentication system 804.The authentication system 804 may provide authentication and/orappraisal services on behalf of the platform 100. For example, theauthentication system 804 may be used to authenticate an item that isoffered for sale or provided for collateral. Additionally, oralternatively, the authentication system 804 may be used to obtain anappraisal of an item that is offered for sale or provided forcollateral.

In some embodiments, the authentication system 804 presents a portalthat allows a user (e.g., a seller or an employee of a facility thatholds items) to upload a virtual representation of an item. The user mayprovide an item classification (e.g., a baseball card, vintage clothing,jewelry, artwork, or the like), and one or more of: one or more highresolution photographs of the virtual item; a 3D representation of theitem; dimensions of the item; a weight of the item; and/or the like. Theauthentication system 804 may allow domain-specific experts to sign upas authenticators/appraisers, such that a domain-specific expert canauthenticate and/or appraise items classified in the area of theirexpertise. For example, sports memorabilia experts may be allowed toauthenticate baseball cards and memorabilia, but not jewelry or artwork.In some embodiments, authenticators may be rated within their area ofexpertise and for sub-domains within their area of expertise (e.g.,within the general category of sports memorabilia, an expert can berated with respect to their knowledge on baseball memorabilia,basketball memorabilia, football memorabilia, and the like). When a newitem is entered into the portal, the domain-specific experts can bid onthe appraisal/authentication job, whereby the bid indicates the terms(e.g., price) under which the expert will perform theappraisal/authentication job. A user may then select the one or more ofthe experts based on their respective bids and/or their ratings.Alternatively, the authentication system 804 may select the one or moreof the experts based on their respective bids and/or their ratings. Oncean expert wins a bid, the expert performs the authentication and/orappraisal based on the information uploaded by the user (e.g., one ormore high resolution photographs of the virtual item, a 3Drepresentation of the item, dimensions of the item, a weight of theitem, and/or the like). The expert may provide an appraisal value and/ora determination indicating the authenticity of the item. Theauthentication system 804 may include the expert's appraisal and/orauthenticity determination in the virtual representation of the virtualitem and, in some embodiments, the authentication system 804 may updatethe distributed ledger with the expert's appraisal and/or authenticitydetermination. As can be appreciated, the appraisal and/or theauthenticity determination may result in an item being kept on orremoved from the platform, or may impact the ability to collateralize aloan using the item.

In some embodiments, the authentication system 804 requires an expert toprovide appraisal/authentication notes that indicate the reasons for theexpert's determination. In providing an appraisal and/or providing adetermination of authenticity, the expert provides one or more reasonsfor his or her findings. For example, in opining that a particular shoeis a knockoff, an expert may indicate in the notes that the stitching ofthe shoe is indicative of a knockoff. The authentication system 804 mayinclude the expert's appraisal/authenticity notes in the virtualrepresentation of the virtual item and, in some embodiments, theauthentication system 804 may update the distributed ledger with theexpert's appraisal/authenticity notes.

In embodiments, the expert authentication determinations, as well asauthentication notes may be used by the machine learning system 802(FIG. 5) to train one or more models that can determine whether an itemis likely a fake. In these embodiments, the models can be trained onimages, weights, dimensions, and/or other features of items that weredeemed to be fake. The authentication system 804 may leverage thesemodels (via the artificial intelligence system 804) to determine whethera new item is likely fake. If the model classifies the item as beinglikely fake, the authentication system 804 may include the determinationin the virtual representation of the virtual item and, in someembodiments, the authentication system 804 may update the distributedledger with the determination that the item is likely fake. If the modelis unable to classify the item as likely being fake, the authenticationsystem 804 may list the item on the portal, such that experts may assessthe item's authenticity. It is noted that in embodiments, a model canclassify an item as likely being fake, but only an expert mayauthenticate the item, as counterfeiters may adapt and improve thequality of the counterfeit items to trick the models into issuing falseauthentications.

In embodiments, the tokenization platform 100 includes a mystery boxsystem 806 that supports a mystery box game. In embodiments, a “mysterybox” may refer to a set of tokens that potentially can be won by aplayer, where each token represents a different item that can beredeemed using a token. In embodiments, each token may have a differentprobability of being selected. In some embodiments, each token may beassigned a range of numbers, where the range of numbers for each tokenreflects the probability of being won by a player. For example, if thereare three tokens, where the first token has a 10% chance of being won,the second token has a 20% chance of being won, and the third token hasa 30% chance of being won, and there is a 40% chance of no token beingwon, the first token may be assigned 1-10, the second token may beassigned 11-30, and the third token may be assigned 31-60. In thisexample, the range of values that may be selected would be 1-100. Aplayer may pay for a chance to win an item in the mystery box. In someembodiments, the odds of winning each token, and the item represented bythe token, are depicted in relation to the mystery box. In this way,players are informed on their chances of winning the various items.

In response to the receiving payment from the player, the mystery boxsystem 806 may generate a random number that is bound by the overallrange of values for the box (e.g. 1-100). The mystery box system 806 maythen determine which token, if any, was won by the player based on therandom number. For example, a mystery box may be jewelry-themed, wherebythe mystery box includes a first token representing a diamond ring, asecond token representing a cubic zirconium ring, and eight tokens, eachrepresenting a $25 gift card that can be spent at a specific jewelryshop (e.g., the jewelry shop that provided the rings). In this example,the first token may have a 0.1% chance of being won, the second tokenmay have a 4.9% chance of being won, and the gift cards may each have a10% chance of being won, whereby there is a 15% chance that the playerwill not win a prize. In this example, the range of numbers may be1-1000, where the first token corresponds to the number 1, the secondtoken corresponds to the range of 2-50, and the third through eighthtokens have a collective range from 51-850. In this example, the priceto play may be set by the jewelry shop, such that the gift cards may beconsidered a mechanism to drive traffic to the jewelry shop. It is notedthat in the foregoing example, the range of tokens are sequential,however the ranges do not need to be sequential and can be slotted inany suitable manner.

In embodiments, the mystery box system 806, in response to a playerwinning a prize from the mystery box, may transfer the token to anaccount of the winning player. In these embodiments, the won token mayappear in the digital wallet of the player. Alternatively, the mysterybox system 806 may deliver the won token to the user via an electronicmessage (e.g., a text message, a messaging app message, an email, or thelike). As will be discussed below, in some embodiments, the mystery boxsystem 806 provides service to brick-and-mortar casinos, such that themystery box game is implemented in a physical device. In theseembodiments, the mystery box system 806 may print out a ticket that hasa token identifier of the won ticket (e.g., a QR code).

In embodiments, the mystery box system 806 may allow players to select amystery box to play from a plurality of available mystery boxes, whereeach mystery box may have a respective theme. For example, a firstmystery box may be art themed such that the mystery box contains tokenscorresponding to art-related items (e.g., arts of work, art relatedproducts, services relating to art (e.g., a commissioned painting by anartist), and the like); a second box may be entertainment themed, wherethe second box may contain tokens corresponding to a movie andtelevision-related items (e.g., memorabilia items from popular moviesand/or TV shows, DVDs or download codes for movies and/or TV shows, giftcertificates to movie theaters, and the like); a third box may be sportsthemed, where the third box may contain tokens corresponding tosports-related items that correspond to a particular team (e.g., gameworn apparel, tickets to games, replica apparel, team apparel, and thelike); a fourth box may be gaming themed, where the fourth box maycontain tokens corresponding to gaming-related items (e.g., video gamesystems, video games, gift certificates, upgrades for characters of aparticular game, and the like); a fifth box may be music-themed, wherethe box may contain tokens relating to items that correspond to aparticular band or artist (e.g., a signed show poster, memorabilia fromthe band or artist, tickets to a show, download codes for an album orsong, and the like); and so forth. In this way, players may select toplay for prizes that are enticing to them.

In embodiments, a mystery box may contain tokens corresponding toreplenishable items and/or non-replenishable items. Replenishable itemsare items that can be replenished in the mystery box when a player winsa token representing the item. For example, gift certificates, movietickets, sports game tickets, DVDs, electronics, video games, replicajerseys, and most clothing items are replenishable, while items such aswatches, high-end jewelry, game-worn sports apparel, signed memorabilia,limited edition shoes, original artwork, are examples ofnon-replenishable items. In some embodiments, the party offering themystery box may designate replacement items of similar value for thenon-replenishable items in a mystery box, such that when anon-replenishable item is won from the mystery box, it may be replacedby one of the designated replacement items. In some of theseembodiments, a mystery box may be arranged according to a “recipe.” Arecipe designates two or more tiers of items in the mystery box, and foreach tier the odds for winning an item from the tier. In theseembodiments, the provider of the mystery box may provide a list of itemsthat belong to each tier. For example, the highest tier (e.g., the tierwith the lowest odds) may include the high-value non-replenishableitems, while the lower tiers may include various levels of replenishableitems. Each item in the recipe may be tokenized, such that the tokensare reserved for use in the mystery box. Each time an item from a tieris won by a player, the mystery box system 806 may replace the tokenrepresenting the item with another token from the same tier as the wontoken. In this way, the price to play the mystery box and the oddsassociated with each item in the mystery box do not change when anon-replenishable item is won from the mystery box.

In embodiments, each mystery box is governed by a smart contract. Thesmart contract may define the different items or tiers of items, and foreach respective item or tier of items, odds for winning the respectiveitem. When a new mystery box is created, the mystery box system 806 mayinstantiate a new smart contract corresponding to the new mystery box.The instance of the smart contract may define the items or tiers ofitems of the new mystery box, the odds for each item (or tier of items),the token identifiers of each of items in the mystery box (orreplacement items that can be included in the mystery box), and a priceto play the mystery box. In embodiments where items are not replaced ina mystery box, the smart contract may further define the manner by whichthe odds of items or the price of the game may be adjusted when certainitems are exhausted. For example, if the highest value item in themystery box is won, the price to play the game may be lowered and/or theodds of winning the remaining items may be adjusted.

The mystery box system 806 may serve the mystery box game in a varietyof different manners. In embodiments, the mystery box system 806 mayserve the mystery box game via the tokenization platform 100, wherebyusers of the tokenization platform 100 may play the mystery box game ona web site or application provided by the tokenization platform 100.Additionally, or alternatively, the mystery box system 806 may serve themystery box game to users via a third-party website or application. Inthese embodiments, the third-party website or application may access themystery box system 806 via the API system 108 of the tokenizationplatform 100.

In some embodiments, the mystery box system 806 may support casino-stylemachines, whereby players can play the mystery box game on a physicalmachine located at, for example, a casino or any other suitablebrick-and-mortar location. In these embodiments, the items may belocated at the brick-and-mortar location where the physical device islocated, such that when a player wins an item from the mystery box, theplayer may redeem the token at the brick-and-mortar location. In theseembodiments, the tokenization platform 100 includes the mystery boxsystem 806 that supports mystery box games that are played at thebrick-and-mortar locations. In these embodiments, the mystery box system806 may provide an API that allows network-connected physical gamingdevices to communicate with the tokenization platform 100. The mysterybox system 806 may serve the mystery box game to the physical gamingdevices via the API system 108. In embodiments, the mystery box system806 may provide token identifiers of won tickets, such that the physicalgaming devices may print a ticket that indicates the won token. In someembodiments, the ticket may include a QR-code that indicates the wontoken.

In embodiments, the player may redeem a ticket indicating a won token atthe brick-and-mortar location. In these embodiments, thebrick-and-mortar location may include scanning devices that scan thetickets and communicates the token identifier of the won token to thecasino gaming system. In response to receiving the token identifier ofthe won token, the mystery box system 806 may redeem the won token onbehalf of the player and may communicate a verification of theredemption of the won token to the scanning device. An employee usingthe scanning device may then provide the item won by the player to theplayer. Alternatively, the player may add the won token to a useraccount of the player. In these embodiments, the player may scan theticket (e.g., the QR-code). In response to the player scanning theticket, the mystery box system 806 may facilitate the transfer of thetoken to an account of the player, whereby the ticket may appear in theplayer's digital wallet. Once this occurs, the player may redeem, sell,gift, collateralize, or otherwise transact with the token.

In embodiments, the tokenization platform 100 includes a video gameintegration system 808. The video game integration system 808 allowsvideo game makers to place tokens in video games, such that gamesplaying a video game may be able to find, buy, trade, or otherwiseinteract with tokens in the video game. In embodiments, a video gamemaker may access an API of the tokenization platform 100 via the APIsystem 108, such that instances of a video game may request certaintokens or types of tokens from the tokenization platform 100. Inresponse to the request, the video game integration system 808 may servea token to the instance of the video game. The tokens may be fungible ornon-fungible. In the latter case, a token may be obtained, purchased, orotherwise transacted for by multiple video games. In the case of anon-fungible token, the first user to transact for the token is theowner of the token. In response to a user transacting for a token, thevideo game integration system 808 may update the distributed ledger toreflect the new ownership of the token.

In some example embodiments, a video game maker may allow third-partiesto advertise items for sale in a video game, whereby a user may purchasean item by selecting an icon (or other visual indicia) displayed in thevideo game that represents a token corresponding to the item. Forexample, an advertiser representing a pizza delivery chain may wish tooffer pizza delivery to gamers in a specific location. In this example,instances of the video game may request food-related tokens from thevideo game integration system 808, whereby each request indicates alocation of the device executing the respective instance of the videogame. The video game integration system 808 may identify tokenscorresponding to food items that can be delivered to a location where arespective instance of the video game is being executed. For example,the video game integration system 808 may identify tokens havingassociated metadata that indicates a delivery radius that includes alocation indicated in the request. In response to the request, the videogame integration system 808 serves the identified token to therequesting instance of the video game. A visual indicium representingthe token may then be displayed by the instance of the video game,whereby a user (i.e., video game player) may opt to transact for thetoken. Upon a user transacting for ownership of the token, the videogame integration system 808 updates the ownership data of the token toreflect that it is owned by the user. In scenarios where deliveryinformation or other logistical information are needed, the instance ofthe video game and/or the user can provide those details at the time oftransaction or the user can provide the required information to completethe transaction. For example, if the user elects to buy a pizza tokenfrom a pizza delivery chain, the instance of the video game and/or theuser may provide the address to where the pizza will be delivered. Theuser, via the instance of the video game, may also provide details suchas toppings for the pizza.

In some example embodiments, the video game maker may allow an itemrepresented by a token to be both used in the digital environment of thevideo game and to be redeemed in “real-life.” In these embodiments, thevideo game maker may include specific fungible or non-fungible tokens inthe video game, whereby users can find, buy, trade for, or otherwisetransact for the tokens appearing in the video game. Once a tokenappearing in a video game is transacted for, the video game integrationsystem 808 may update the ownership data of the transacted for the tokento reflect that the user is the owner of the token. A visual indicium ofthe token may appear in a video game instance corresponding to the userand/or in a digital wallet of the user. Once owned by the user, the usermay use the token in the video game and may subsequently redeem thetoken to receive the physical item represented by the token. Forexample, in a role-playing game a token may represent a pair of earringsthat give the player of the video game a special power (e.g.,invisibility). The user may use the earrings in the game to enjoy thespecial power or may redeem the earrings. In the latter scenario, theearrings may be shipped to the user, such that the earrings may bephysically worn by the user, but are no longer able to be used in thevideo game. In some of these embodiments, the video game maker may allowthe user to transact the tokens. For example, the owner of a token maytrade or sell the token for a token corresponding to another item. Eachtime the ownership is changed, the video game integration system 808 mayupdate the distributed ledger to reflect the change in ownership. Once auser no longer owns a token, the user cannot use or redeem the itemindicated by the token. In some embodiments, the video game may allowthe user to return the item to a verified location (e.g., storagewarehouse), whereby once the item is authenticated the user may then usethe digital representation of the item in the video game once again.

The video game integration system 808 may allow video game makers tointegrate tokens into their video games in additional or alternativemanners. For example, video game makers may use tokens as “Easter eggs”or prizes that may be won by players as they uncover the tokens. Inanother example, a video game maker may integrate one or more mysteryboxes in a video game. In another example, users may create digitalitems within the construct of a video game, such that the digital itemsmay be tokenized and transacted for (e.g., traded, gifted, sold, etc.).

In embodiments, the tokenization platform 100 includes a useracquisition system 810. In embodiments, the user acquisition system 810provides mechanisms that facilitate the promotion of the tokenizationplatform, and particularly, the enlisting of new users. In someembodiments, the user acquisition system 810 provides each existing userwith a unique referral code that each respective user can share with hisor her friends, social media followers, contacts, or the like. Inaddition, the user acquisition system 810 may provide an incentive toeach existing user, whereby the incentive indicates a reward for eachnew user or number of users (e.g., three users) that sign up for anaccount. The incentive may be any form of payment, including currency(e.g., traditional currency or cryptocurrency), gift cards, physicalitems, digital items, and the like. In some embodiments, the reward isprovided as a tokenized token, whereby the tokenized token represents aset amount of currency. In embodiments, the user acquisition system 810may provide different incentives to different users. In someembodiments, the incentive may be determined based on the potentialreach of each respective user. For example, users that have significantreach (e.g., social media influencers, celebrities, etc.) may be givengreater incentive than users with relatively little reach. In someembodiments, the incentive may be determined based on the interests ofeach respective user. For example, a first user that is interested ingolf may be incentivized with golf-related items or gift certificates,while a second user that is interested in art may be incentivized withart-related items or gift certificates. In some embodiments, the useracquisition system 810 codifies the incentive for each user in arespective instance of a smart contract. In some of these embodiments,the smart contract instance governs the incentives/rewards of a user isassociated with the referral code of the user and/or the public addressof the user. When the referral code of the user is successfully used toenlist a new account, the smart contract may facilitate the transfer ofa token representing the reward to an account of the referring user.

Each time a new user enlists for an account using a referral code, theuser acquisition system 810 determines whether the new user islegitimate (e.g., not a bot, not a fraudulent account, etc.). Assumingthe new user is granted an account (e.g., there is not detected fraud),the user acquisition system 810 determines the user account associatedwith the referral code. In some embodiments, the user acquisition system810 determines a smart contract associated with the user account and/orthe referral code. The user acquisition system 810 may provide anotification to the smart contract associated with the user accountand/or the referral code of a new account. The smart contract may theninitiate the transfer of the token representing the reward to an accountof the user.

In embodiments, the user acquisition system 810 may perform theseservices for third-party customers. In these embodiments, a third-partycustomer may provide rewards (e.g., cash, cryptocurrency, gift cards,physical items, etc.) to a trusted third-party holder (e.g., thetokenization platform or another trusted holder). The rewards may thenbe tokenized and held in escrow. The third-party may further define theparameters governing the rewards (e.g., how much incentive to award, whomay be a promoter, etc.). The user acquisition system 810 may generate asmart contract on behalf of the third-party customer. When a userrequests a referral code, the user acquisition system 810 may generatean instance of the smart contract on behalf of the customer and mayassociate the instance of the smart contract with the account of theuser. When the user successfully refers a buyer to the customer using areferral code, the user acquisition system 810 (and/or the instance ofthe smart contract) may transfer a token representing the reward to anaccount of the referring user.

To further describe some embodiments in greater detail, reference isnext made to examples of techniques which may be performed by or inconnection with ecommerce systems, for example, platform 100. Thetechniques include technique 900 of FIG. 9, 1000 of FIG. 10, 1100 ofFIG. 11, 1200 of FIG. 12, 1300 of FIG. 13, 1400 of FIG. 14, 1500 of FIG.15, 1600 of FIG. 16, 1700 of FIG. 17, 1800 of FIG. 18, and 1900 of FIG.19. Technique 900, technique 1000, technique 1100, technique 1200,technique 1300, technique 1400, technique 1500, technique 1600,technique 1700, technique 1800, and technique 1900 can be executed usingcomputing devices, such as the systems, hardware, and software describedherein. Technique 900, technique 1000, technique 1100, technique 1200,technique 1300, technique 1400, technique 1500, technique 1600,technique 1700, technique 1800, and technique 1900 can be performed, forexample, by executing a machine-readable program or othercomputer-executable instructions, such as routines, instructions,programs, or other code. The steps, or operations, of technique 900,technique 1000, technique 1100, technique 1200, technique 1300,technique 1400, technique 1500, technique 1600, technique 1700,technique 1800, and technique 1900 or another technique, method,process, or algorithm described in connection with the embodimentsdisclosed herein, can be implemented directly in hardware, firmware,software executed by hardware, circuitry, or a combination thereof. Forsimplicity of explanation, 900, technique 1000, technique 1100,technique 1200, technique 1300, technique 1400, technique 1500,technique 1600, technique 1700, technique 1800, and/or technique 1900are each depicted and described herein as a series of steps oroperations. However, the steps or operations in accordance with thisdisclosure can occur in various orders and/or concurrently.Additionally, other steps or operations not presented and describedherein may be used. Furthermore, not all illustrated steps or operationsmay be required to implement a technique in accordance with thedisclosed subject matter.

FIG. 9 depicts a flowchart showing a technique 900 for tokenizing itemsaccording to some embodiments of the present disclosure. At 9002, iteminformation is obtained. The item information may include a uniqueidentifier for a unique unit of the item and a set of item attributes.In embodiments, a processing system of a tokenization platform obtainsthe information.

At 904, one or more digital tokens are generated. In embodiments, thedigital tokens are unique digital tokens. Each unique digital token mayinclude a set of digital attributes that correspond to the set of itemattributes. In embodiments, N digital tokens are generated and linked toan item or virtual representation thereof. In embodiments, a tokengeneration system generates the one or more digital tokens.

At 906, the digital token is coupled to the item information. Inembodiments, a cryptographic link couples the digital token to the iteminformation such that the digital token provides a representation of theitem. For example, the digital token and the item may be unique suchthat the unique digital token and the unique identifier for the uniqueunit of the item are cryptographically linked to provide a uniquedigital representation of the unique unit of the item. In embodiments, alinking system, such as a module of the token generation system 302,couples the digital token to the item information.

In embodiments, tokens may be tokenized (e.g., when generating a tokenrepresenting an amount of funds). For example, the item information maybe funds within the platform 100 or from third-party sources. Thetokenized token can be generated in response to validation of receipt ofthe funds, and the funds may be held from transaction by the user. Insome embodiments, the funds remain publicly attributed to the user andthe ledger is updated with a hold or lien recorded against the funds toprevent user transaction of the tokenized funds without approval by theplatform 100. In some embodiments, the ledger is updated to reflect atransfer of the funds from the user to the platform 100. Beneficially,transferred funds may be tradeable by the platform 100 (e.g., fordepositing or investment with third parties), and the tokenized tokensare redeemable for an equivalent amount of the original funds even ifthe redeemed funds are not the originally tokenized funds such that thetokenized token may be used by transactions within the platform 100while the deposited funds may participate in economic transactionsbetween the platform 100 and third parties.

FIG. 10 depicts a flowchart showing a technique 1000 for transferringtokens using a digital marketplace according to some embodiments of thepresent disclosure. At 1002, a ledger is maintained. The ledger stores aplurality of public addresses, a plurality of virtual representations ofa plurality of respective items, and, for each virtual representation, aset of tokens, and ownership data of each respective token. The set oftokens respectively correspond to a respective instance of the itemrepresented by the virtual representation. Further, each respectivepublic address corresponds to a respective account of a respective userof the tokenization platform.

At 1004, a digital marketplace is provided. In embodiments, the digitalmarketplace provides a graphical user interface that allows consumers toview visualizations of virtual representations of items including thevirtual representation of the item and transact for an instance of theitem by purchasing a digital token of the N digital tokens. Upon a userpurchasing a token, the ledger may be updated to reflect a change inownership of the token from the seller of the token to the user. Once auser owns a token, the user may be allowed to transfer the token toanother user, sell the token, use the token as collateral, and/or redeemthe token.

At 1006, a redemption is processed in response to a user requestingredemption of the token. In embodiments, the redemption may begin byassociating a specific token that corresponds to the virtualrepresentation with an account of the transacting user. The associationmay be made in response to verifying the request to participate in thetransaction. A transfer request is received requesting transfer of thespecific token to a transferee. The transfer request includes adigital-token identifier that identifies the specific token and a publicaddress of the different user. Further, the specific token is validated.The validation can be based on the digital-token identifier and theledger. In the process, the account of the transferee on the platform100 may be verified and/or validated based on the public address of theuser and the ledger. Additionally, the ledger is updated with a blockthat includes ownership data and indicates that a specific tokencorresponding to the virtual representation is owned by the transactinguser. In embodiments, the updating occurs in response to both validatingthe specific token and verifying the transferee. Yet further, aredemption request is received to redeem the digital token from a userdevice of the transferee, and a workflow is executed to satisfy thetransaction for instance of the item corresponding to the token. Theworkflow may be initiated in response to receiving the redemptionrequest.

FIG. 11 depicts a flowchart showing a technique 1100 for transferringtokens between wallets via a keyboard interaction according to someembodiments of the present disclosure. At 1102, one or more wallets aredisplayed. The display of the one or more wallets may include, forexample, displaying a digital wallet graphical user interface via a userdevice of a user associated with the digital wallet. Additionally, aninventory of tokens that are owned by the user may be displayed by thedigital wallet graphical user interface. In embodiments, each tokencorresponds to a respective item and may be redeemable by a user tosatisfy a transaction for an instance of the respective item.

At 1104, transfer instructions are received. The transfer instructionmay include indication of one or more digital tokens from the inventoryof tokens and a recipient of the digital token. The transferinstructions can be received by the digital wallet graphical userinterface.

At 1106, the digital tokens are transferred in response to keyboardinteractions. In embodiments, a digital keyboard is displayed by thedigital wallet graphical user interface. The digital keyboard includes aselectable media content that is representative of the itemcorresponding to the digital token within the transfer request. Userinput producing a text-based message including a selection of theselectable media content by the digital keyboard is received. Forexample, the user may type a message surrounding the transfer (e.g.,“Please enjoy this gift from me) and may then select the selectablemedia content representing the token (e.g., an image of the itemrepresented by the token) to create a message having the token embeddedtherein. The selectable media content includes the digital token/anidentifier of the digital token (e.g., a hash value that uniquelyidentifies the digital token). The digital token (e.g., an identifierthereof) is embedded within the text-based message by the digitalkeyboard, and the digital wallet transmits the text-based message to amessage account of the recipient. Upon receipt, the digital token isaccepted into a respective digital wallet of the recipient in responseto the recipient selecting the selectable media content.

FIG. 12 depicts a flowchart showing a technique 1200 for redeemingtokens according to some embodiments of the present disclosure. At 1202,ledger data is maintained. The ledger data can include a plurality ofpublic addresses, a plurality of virtual representations, a set oftokens for each of the plurality of virtual representations, andownership data for each of the set of tokens.

Each respective public address corresponds to a respective account of arespective user of the tokenization platform. The virtualrepresentations correspond to respective items, and the set of tokensrespectively correspond to a respective instance of the respective itemfor each virtual representation.

At 1204, a redemption request is received. The redemption request seeksto redeem a digital token from a user device of a user, and the digitaltoken corresponds to an instance of the item to be redeemed. At 1206,ownership of the digital token by the user is verified. The verificationcan be made based on the plurality of public addresses, the sets ofdigital tokens, and the redemption request. For example, the redemptionrequest may include a user id of a user wishing to redeem a tokenindicated by a token identifier. The platform 100 may validate theownership of the token by checking that the ledger data links the tokenidentifier indicated in the redemption request to the public address ofthe user indicated in the redemption request. If so, the ownership ofthe digital token is verified.

At 1208, details for fulfilment and/or delivery are managed by theplatform 100. In some embodiments, the platform 100 may prompt the userto provide delivery details (e.g., via a graphical user interface). Inresponse, the platform 100 may receive the delivery details from theuser via the user device. The delivery details may then be output to adelivery system, which initiates delivery of the redeemed token. Forexample, the user may provide a physical address and any other relevantdelivery data (e.g., best time of day for delivery or phone number). Inthis case, the delivery system may use the provided address to initiatea delivery of the item represented by the redeemed token. In anotherexample, the token may represent a digital item. In such cases, the usermay provide an email address or other account data to which the digitalitem (or a link thereto) may be delivered. In some embodiments, theplatform 100 may request fulfilment details in response to verifyingthat the user is the owner of the token. The fulfilment details includeinformation needed to satisfy the transaction for the item that were notprovided at a time when the token was transacted for. For example, thefulfilment details may include item constituent materials, sizing,color, combinations thereof, and the like. The fulfilment details may bereceived from the user device of the user and outputted to a fulfilmentsystem. The fulfillment system may initiate delivery of an item thatsatisfies the fulfillment details.

FIG. 13 illustrates a flowchart showing a technique 1300 forcollateralization and/or securitization according to some embodiments ofthe present disclosure. At 1302, an item conversion request is received.In embodiments, the item is a tangible item. In other embodiments, theitem is other forms of collateral. At 1304, item information isreceived. The item information may include information that is requiredor helpful in determining valuation of the item. For example, the iteminformation may include one or more photographs of the item, adescription of the item, an appraisal value of the item, and/or aholding location of the item.

At 1306, a virtual representation of the collateral item is generatedbased on the item information. At 1308, one or more tokens are generatedbased on the virtual representation. At 1310, ownership of the digitaltoken is assigned. Initially, the ownership of the digital token isassigned to the owner of the collateralized item represented by thedigital token. At 1312, an agreement that is backed by the item ismemorialized. In embodiments, the item is an asset that is used ascollateral to an agreement to provide a service for the user by aprovider. In embodiments, an instance of a smart contract that governsthe service is generated. The smart contract indicates an amount to beprovided by the user to the provider and one or more conditions thatcause ownership of the digital token to be transferred to the provider.The instance of the smart contract may then be deployed by theprocessing system. In embodiments, the item is a collateralizable itemthat is used as loan security. The agreement to loan a defined amount offunds to the user by a lender is received by the processing system. Aninstance of a smart contract governing the loan is generated by theprocessing system. The instance of the smart contract indicates anamount to be paid back by the user to the lender, as well as one or moreconditions that cause ownership of the token to be transferred to thelender (e.g., default conditions). The instance of the smart contract isthen deployed by the processing system. In some embodiments, the tokenmay be placed in escrow, such that the lendee cannot redeem or transferthe token until the loan is paid. In these embodiments, the smartcontract may define conditions that result in the token beingtransferred back to the lendee (e.g., when payment is complete).

FIG. 14 illustrates a flowchart showing a technique 1400 for itemauthentication according to some embodiments of the present disclosure.At 1402, a tokenization request is received from a user device. At 1404,item information is received. In some embodiments, the item informationmay be provided by a user or via an automated processes. At 1406, avirtual representation of the item is generated.

At 1408, the authenticity of the item is determined through suitableauthentication processes. In embodiments, an authentication of the itemmay be requested via a portal that is accessible by subject-matterauthentication experts. In these embodiments, the portal may furtherdisplay the virtual representation of the item. For example, thesubject-matter expert may be presented with an image of the item, adescription of the item (e.g., weight, dimensions, etc.), a video of theitem, and/or the like. An authentication report may then be received bythe processing system. The authentication report may be provided by asubject-matter authentication expert, which may include an opinionindicating whether the subject-matter authentication expert deemed theitem authentic or not-authentic and one or more reasons for the opinion.In some embodiments, the platform may generate a digital token inresponse to an opinion indicating that the item is deemed authentic, andownership of the digital token assigned to an owner of the item. Thedigital token may be based on a virtual representation of the item.

FIG. 15 depicts a flowchart showing a technique 1500 for rendering VRenvironments. Leger data is maintained at 1502 using suitable processessuch as those discussed above. At 1504, an environment is rendered. Inembodiments, a virtual reality store environment is rendered, whichprovides an interface that allows users to view virtual realityvisualizations of available items and to transact for instances of theavailable items. The available items are items which are available fortransaction. Further, a virtual reality visualization of an itemrepresented by a virtual representation may also be included within thevirtual reality store environment. At 1506, the item within the virtualenvironment is transacted through suitable processes. For example, arequest to participate in a transaction for an instance of the item isreceived by the platform 100 from a user device of a transacting user.In embodiments, the request to participate in the transaction isreceived in response to the transacting user viewing the virtual realityrepresentation of the item in the virtual reality store environment.Information associated with the request may be verified, and thespecific token corresponding to the virtual representation is associatedwith an account of the transacting user in response to verifying therequest to participate in the transaction.

FIG. 16 illustrates a flowchart showing a technique 1600 forfacilitating transactions using ledger with a side chain of blocksaccording to some embodiments of the present disclosure.

At 1602, a ledger is maintained. The ledger includes a main chain ofblocks and a side chain of blocks. In embodiments, blocks of the mainchain collectively store information relating to a plurality of users,which include both item providers and item consumers. The informationrelating to the plurality of users includes a plurality of publicaddresses, and each respective public address corresponds to arespective account of a respective user of the tokenization platform.

Blocks of the side chain collectively store a plurality of virtualrepresentations of a plurality of respective items, a set of tokens foreach virtual representation, and ownership data of each respectivetoken. Each virtual representation includes virtual reality content torender a virtual reality visualization of the respective item, and eachset of tokens respectively corresponds to a respective instance of theitem represented by the virtual representation.

At 1604, a transaction request is received through a suitable process,such as those described above. At 1606, transaction of the item occurs.In embodiments, ownership data of a specific token corresponding to thevirtual representation in the first side chain of blocks is updated toindicate that the transacting user owns the specific token. Inembodiments, the transaction of the item includes validating thespecific token based on the digital-token identifier and the first chainof blocks, verifying that the different user has a valid account on thetokenization platform based on the public address of the user and themain chain of blocks, and, in response to validating the specific tokenand verifying the different user, updating the second chain of blockswith a new block. The new block includes ownership data that indicatesthat the specific token corresponding to the virtual representation isowned by the different user.

FIG. 17 depicts a flowchart showing a technique 1700 for facilitatinguser acquisition according to some embodiments of the presentdisclosure. At 1702, a referral code is generated, which corresponds toa user of the tokenization platform. The referral code may be generatedby a processing system of the tokenization platform. At 1704, aninstance of a smart contract is generated that corresponds to the userof the tokenization platform. The instance of the smart contract may begenerated by the tokenization platform. The instance of the smartcontract indicates an incentive to be provided to the user when the usersuccessfully refers the tokenization platform. At 1706, the instance ofthe smart contract is deployed by the processing system. At 1708, arequest to create a new account is received from a new user by theprocessing system. The request includes the referral code of the user.At 1710, the new account is created for the new user by the processingsystem. At 1712, the processing system provides a notification of thenew account to the instance of the smart contract corresponding to theuser. The smart contract then facilitates the transfer of a tokenrepresenting the incentive in response to the notification.

FIG. 18 depicts a flowchart showing a technique 1800 for managingmystery boxes according to some embodiments of the present disclosure.At 1802, a request to create a mystery box is received by the processingsystem. At 1804, a set of tokens to be included in the mystery box isreceived by the processing system. Each token in the set of tokensrepresents a respective item and has a probability assigned thereto. Theprobability indicates a probability of winning the respective item.

At 1806, the mystery box is generated by the processing system based onthe set of tokens and the probabilities assigned thereto. Each token inthe set of tokens is assigned a range of values within an interval ofvalues such that the range of values with respect to the interval ofvalues is proportionate to the probability assigned to the token.

At 1808, an instance of a smart contract is generated by the processingsystem. The smart contract is associated with the mystery box andgoverns the transfer of tokens from the set of tokens in support of themystery box. At 1810, the instance of the smart contract is deployed bythe processing system.

FIG. 19 depicts a flowchart showing a technique 1900 for video-gameintegration according to some embodiments of the present disclosure. At1902, an inventory of available tokens is maintained. The availabletokens are available for integration in a video game. Each token in theinventory of tokens represents a respective item. At 1904, a tokenrequest for a digital token is received by the processing system. Thedigital token is from an instance of the video game via an API. At 1906,the processing system selects the digital token from the inventory ofavailable tokens based on the token request. At 1908, an indicator ofthe token is provided to the instance of the video game by theprocessing system. At 1910, the processing system receives a transactionrequest from the instance of the video game. The transaction request isconfigured to request a transfer of the token provided to the instanceof the video game to an account of a user of the instance of the videogame. At 1912, the ledger is updated to reflect that the user is theowner of the token.

Detailed embodiments of the present disclosure are disclosed herein;however, it is to be understood that the disclosed embodiments aremerely exemplary of the disclosure, which may be embodied in variousforms. Therefore, specific structural and functional details disclosedherein are not to be interpreted as limiting, but merely as a basis forthe claims and as a representative basis for teaching one skilled in theart to variously employ the present disclosure in virtually anyappropriately detailed structure.

The terms “a” or “an,” as used herein, are defined as one or more thanone. The term “another,” as used herein, is defined as at least a secondor more. The terms “including” and/or “having,” as used herein, aredefined as comprising (i.e., open transition). The term “set” may referto one or more objects.

While only a few embodiments of the present disclosure have been shownand described, it will be obvious to those skilled in the art that manychanges and modifications may be made thereunto without departing fromthe spirit and scope of the present disclosure as described in thefollowing claims. All patent applications and patents, both foreign anddomestic, and all other publications referenced herein are incorporatedherein in their entireties to the full extent permitted by law.

The methods and systems described herein may be deployed in part or inwhole through a machine that executes computer software, program codes,and/or instructions on a processor. The present disclosure may beimplemented as a method on the machine, as a system or apparatus as partof or in relation to the machine, or as a computer program productembodied in a computer readable medium executing on one or more of themachines. In embodiments, the processor may be part of a server, cloudserver, client, network infrastructure, mobile computing platform,stationary computing platform, or other computing platforms. A processormay be any kind of computational or processing device capable ofexecuting program instructions, codes, binary instructions and the like.The processor may be or may include a signal processor, digitalprocessor, embedded processor, microprocessor or any variant such as aco-processor (math co-processor, graphic co-processor, communicationco-processor and the like) and the like that may directly or indirectlyfacilitate execution of program code or program instructions storedthereon. In addition, the processor may enable execution of multipleprograms, threads, and codes. The threads may be executed simultaneouslyto enhance the performance of the processor and to facilitatesimultaneous operations of the application. By way of implementation,methods, program codes, program instructions and the like describedherein may be implemented in one or more thread. The thread may spawnother threads that may have assigned priorities associated with them;the processor may execute these threads based on priority or any otherorder based on instructions provided in the program code. The processor,or any machine utilizing one, may include non-transitory memory thatstores methods, codes, instructions and programs as described herein andelsewhere. The processor may access a non-transitory storage mediumthrough an interface that may store methods, codes, and instructions asdescribed herein and elsewhere. The storage medium associated with theprocessor for storing methods, programs, codes, program instructions orother type of instructions capable of being executed by the computing orprocessing device may include but may not be limited to one or more of aCD-ROM, DVD, memory, hard disk, flash drive, RAM, ROM, cache and thelike.

A processor may include one or more cores that may enhance speed andperformance of a multiprocessor. In embodiments, the process may be adual core processor, quad core processors, other chip-levelmultiprocessor and the like that combine two or more independent cores(called a die).

The methods and systems described herein may be deployed in part or inwhole through a machine that executes computer software on a server,client, firewall, gateway, hub, router, or other such computer and/ornetworking hardware. The software program may be associated with aserver that may include a file server, print server, domain server,Internet server, intranet server, cloud server, and other variants suchas secondary server, host server, distributed server and the like. Theserver may include one or more of memories, processors, computerreadable media, storage media, ports (physical and virtual),communication devices, and interfaces capable of accessing otherservers, clients, machines, and devices through a wired or a wirelessmedium, and the like. The methods, programs, or codes as describedherein and elsewhere may be executed by the server. In addition, otherdevices required for execution of methods as described in thisapplication may be considered as a part of the infrastructure associatedwith the server.

The server may provide an interface to other devices including, withoutlimitation, clients, other servers, printers, database servers, printservers, file servers, communication servers, distributed servers,social networks, and the like. Additionally, this coupling and/orconnection may facilitate remote execution of program across thenetwork. The networking of some or all of these devices may facilitateparallel processing of a program or method at one or more locationwithout deviating from the scope of the disclosure. In addition, any ofthe devices attached to the server through an interface may include atleast one storage medium capable of storing methods, programs, codeand/or instructions. A central repository may provide programinstructions to be executed on different devices. In thisimplementation, the remote repository may act as a storage medium forprogram code, instructions, and programs.

The software program may be associated with a client that may include afile client, print client, domain client, Internet client, intranetclient and other variants such as secondary client, host client,distributed client and the like. The client may include one or more ofmemories, processors, computer readable media, storage media, ports(physical and virtual), communication devices, and interfaces capable ofaccessing other clients, servers, machines, and devices through a wiredor a wireless medium, and the like. The methods, programs, or codes asdescribed herein and elsewhere may be executed by the client. Inaddition, other devices required for execution of methods as describedin this application may be considered as a part of the infrastructureassociated with the client.

The client may provide an interface to other devices including, withoutlimitation, servers, other clients, printers, database servers, printservers, file servers, communication servers, distributed servers andthe like. Additionally, this coupling and/or connection may facilitateremote execution of program across the network. The networking of someor all of these devices may facilitate parallel processing of a programor method at one or more location without deviating from the scope ofthe disclosure. In addition, any of the devices attached to the clientthrough an interface may include at least one storage medium capable ofstoring methods, programs, applications, code and/or instructions. Acentral repository may provide program instructions to be executed ondifferent devices. In this implementation, the remote repository may actas a storage medium for program code, instructions, and programs.

The methods and systems described herein may be deployed in part or inwhole through network infrastructures. The network infrastructure mayinclude elements such as computing devices, servers, routers, hubs,firewalls, clients, personal computers, communication devices, routingdevices and other active and passive devices, modules and/or componentsas known in the art. The computing and/or non-computing device(s)associated with the network infrastructure may include, apart from othercomponents, a storage medium such as flash memory, buffer, stack, RAM,ROM and the like. The processes, methods, program codes, instructionsdescribed herein and elsewhere may be executed by one or more of thenetwork infrastructural elements. The methods and systems describedherein may be adapted for use with any kind of private, community, orhybrid cloud computing network or cloud computing environment, includingthose which involve features of software as a service (SaaS), platformas a service (PaaS), and/or infrastructure as a service (IaaS).

The methods, program codes, and instructions described herein andelsewhere may be implemented on a cellular network having multiplecells. The cellular network may either be frequency division multipleaccess (FDMA) network or code division multiple access (CDMA) network.The cellular network may include mobile devices, cell sites, basestations, repeaters, antennas, towers, and the like. The cell networkmay be a GSM, GPRS, 3G, EVDO, mesh, or other networks types.

The methods, program codes, and instructions described herein andelsewhere may be implemented on or through mobile devices. The mobiledevices may include navigation devices, cell phones, mobile phones,mobile personal digital assistants, laptops, palmtops, netbooks, pagers,electronic books readers, music players and the like. These devices mayinclude, apart from other components, a storage medium such as a flashmemory, buffer, RAM, ROM and one or more computing devices. Thecomputing devices associated with mobile devices may be enabled toexecute program codes, methods, and instructions stored thereon.Alternatively, the mobile devices may be configured to executeinstructions in collaboration with other devices. The mobile devices maycommunicate with base stations interfaced with servers and configured toexecute program codes. The mobile devices may communicate on apeer-to-peer network, mesh network, or other communications network. Theprogram code may be stored on the storage medium associated with theserver and executed by a computing device embedded within the server.The base station may include a computing device and a storage medium.The storage device may store program codes and instructions executed bythe computing devices associated with the base station.

The computer software, program codes, and/or instructions may be storedand/or accessed on machine readable media that may include: computercomponents, devices, and recording media that retain digital data usedfor computing for some interval of time; semiconductor storage known asrandom access memory (RAM); mass storage typically for more permanentstorage, such as optical discs, forms of magnetic storage like harddisks, tapes, drums, cards and other types; processor registers, cachememory, volatile memory, non-volatile memory; optical storage such asCD, DVD; removable media such as flash memory (e.g., USB sticks orkeys), floppy disks, magnetic tape, paper tape, punch cards, standaloneRAM disks, Zip drives, removable mass storage, off-line, and the like;other computer memory such as dynamic memory, static memory, read/writestorage, mutable storage, read only, random access, sequential access,location addressable, file addressable, content addressable, networkattached storage, storage area network, bar codes, magnetic ink, and thelike.

The methods and systems described herein may transform physical and/orintangible items from one state to another. The methods and systemsdescribed herein may also transform data representing physical and/orintangible items from one state to another.

The elements described and depicted herein, including in flowcharts andblock diagrams throughout the figures, imply logical boundaries betweenthe elements. However, according to software or hardware engineeringpractices, the depicted elements and the functions thereof may beimplemented on machines through computer executable media having aprocessor capable of executing program instructions stored thereon as amonolithic software structure, as standalone software modules, or asmodules that employ external routines, code, services, and so forth, orany combination of these, and all such implementations may be within thescope of the present disclosure. Examples of such machines may include,but may not be limited to, personal digital assistants, laptops,personal computers, mobile phones, other handheld computing devices,medical equipment, wired or wireless communication devices, transducers,chips, calculators, satellites, tablet PCs, electronic books, gadgets,electronic devices, devices having artificial intelligence, computingdevices, networking equipment, servers, routers and the like.Furthermore, the elements depicted in the flowchart and block diagramsor any other logical component may be implemented on a machine capableof executing program instructions. Thus, while the foregoing drawingsand descriptions set forth functional aspects of the disclosed systems,no particular arrangement of software for implementing these functionalaspects should be inferred from these descriptions unless explicitlystated or otherwise clear from the context. Similarly, it will beappreciated that the various steps identified and described above may bevaried and that the order of steps may be adapted to particularapplications of the techniques disclosed herein. All such variations andmodifications are intended to fall within the scope of this disclosure.As such, the depiction and/or description of an order for various stepsshould not be understood to require a particular order of execution forthose steps, unless required by a particular application, or explicitlystated or otherwise clear from the context.

The methods and/or processes described above, and steps associatedtherewith, may be realized in hardware, software or any combination ofhardware and software suitable for a particular application. Thehardware may include a general-purpose computer and/or dedicatedcomputing device or specific computing device or particular aspect orcomponent of a specific computing device. The processes may be realizedin one or more microprocessors, microcontrollers, embeddedmicrocontrollers, programmable digital signal processors or otherprogrammable devices, along with internal and/or external memory. Theprocesses may also, or instead, be embodied in an application specificintegrated circuit, a programmable gate array, programmable array logic,or any other device or combination of devices that may be configured toprocess electronic signals. It will further be appreciated that one ormore of the processes may be realized as a computer executable codecapable of being executed on a machine-readable medium. The computerexecutable code may be created using a structured programming languagesuch as C, an object oriented programming language such as C++, or anyother high-level or low-level programming language (including assemblylanguages, hardware description languages, and database programminglanguages and technologies) that may be stored, compiled or interpretedto run on one of the above devices, as well as heterogeneouscombinations of processors, processor architectures, or combinations ofdifferent hardware and software, or any other machine capable ofexecuting program instructions.

Thus, in one aspect, methods described above and combinations thereofmay be embodied in computer executable code that, when executing on oneor more computing devices, performs the steps thereof. In anotheraspect, the methods may be embodied in systems that perform the stepsthereof and may be distributed across devices in a number of ways, orall of the functionality may be integrated into a dedicated, standalonedevice or other hardware. In another aspect, the means for performingthe steps associated with the processes described above may include anyof the hardware and/or software described above. All such permutationsand combinations are intended to fall within the scope of the presentdisclosure.

While the disclosure has been disclosed in connection with the preferredembodiments shown and described in detail, various modifications andimprovements thereon will become readily apparent to those skilled inthe art. Accordingly, the spirit and scope of the present disclosure isnot to be limited by the foregoing examples but is to be understood inthe broadest sense allowable by law.

The use of the terms “a” and “an” and “the” and similar referents in thecontext of describing the disclosure (especially in the context of thefollowing claims) is to be construed to cover both the singular and theplural unless otherwise indicated herein or clearly contradicted bycontext. The terms “comprising,” “having,” “including,” and “containing”are to be construed as open-ended terms (i.e., meaning “including, butnot limited to,”) unless otherwise noted. Recitations of ranges ofvalues herein are merely intended to serve as a shorthand method ofreferring individually to each separate value falling within the range,unless otherwise indicated herein, and each separate value isincorporated into the specification as if it were individually recitedherein. All methods described herein may be performed in any suitableorder unless otherwise indicated herein or otherwise clearlycontradicted by context. The use of any and all examples, or exemplarylanguage (e.g., “such as”) provided herein, is intended merely to betterilluminate the disclosure and does not pose a limitation on the scope ofthe disclosure unless otherwise claimed. No language in thespecification should be construed as indicating any non-claimed elementas essential to the practice of the disclosure.

While the foregoing written description enables one skilled in the artto make and use what is considered presently to be the best modethereof, those skilled in the art will understand and appreciate theexistence of variations, combinations, and equivalents of the specificembodiment, method, and examples herein. The disclosure should thereforenot be limited by the above-described embodiment, method, and examples,but by all embodiments and methods within the scope and spirit of thedisclosure.

Any element in a claim that does not explicitly state “means for”performing a specified function, or “step for” performing a specifiedfunction, is not to be interpreted as a “means” or “step” clause asspecified in 35 U.S.C. § 112(f). In particular, any use of “step of” inthe claims is not intended to invoke the provision of 35 U.S.C. §112(f).

Persons skilled in the art may appreciate that numerous designconfigurations may be possible to enjoy the functional benefits of theinventive systems. Thus, given the wide variety of configurations andarrangements of embodiments of the present invention the scope of theinvention is reflected by the breadth of the claims below rather thannarrowed by the embodiments described above.

What is claimed is:
 1. A method comprising: executing, by one or moreprocessors, a smart contract that facilitates electronic transfer ofnon-fungible tokens to a user according to a recipe, wherein eachrespective non-fungible token is cryptographically linked with a digitalrepresentation of a respective asset that can be won by the user and therecipe defines a respective probability that the respective non-fungibletoken is awarded to the user and a manner by which the respectivenon-fungible token is awarded to the user; generating, by the smartcontract, a random number; selecting, by the smart contract, one of thenon-fungible tokens based on the random number and the recipe; andtransferring, by the smart contract, the selected non-fungible token toa digital wallet of the user.
 2. The method of claim 1, wherein therespective assets are digital works of art.
 3. The method of claim 1,wherein the respective assets are physical items.
 4. The method of claim3, wherein the selected non-fungible token is redeemable for therespective asset that is cryptographically linked to the selectednon-fungible token.
 5. The method of claim 1, wherein transferring theselected non-fungible token to a digital wallet of the user includes:verifying a public address of the user via a distributed ledger; andupdating the distributed ledger with ownership data that indicates thetransfer of the selected non-fungible token to the account associatedwith the public address of the user.
 6. The method of claim 5, whereinthe distributed ledger is a blockchain.
 7. The method of claim 6,wherein the distributed ledger is a public blockchain.
 8. The method ofclaim 6, wherein the distributed ledger is a private blockchain.
 9. Themethod of claim 5, wherein the smart contract is executed by one or morenode devices that host the blockchain.
 10. The method of claim 1,wherein the recipe defines respective ranges of numbers corresponding todifferent non-fungible tokens, wherein each respective range of numbersrepresents the respective probability that a corresponding non-fungibletoken will be selected.
 11. The method of claim 10, wherein selectingthe non-fungible token includes identifying a range of numbers in whichthe randomly generated number falls within, wherein the selectednon-fungible token corresponds to the identified range of numbers. 12.The method of claim 11, wherein the selected non-fungible token istransferrable by the user to another user.
 13. The method of claim 12,wherein the user transfers the selected non-fungible token using agraphical user interface of the digital wallet.
 14. The method of claim13, wherein transferring the selected-non fungible token transfersredemption rights to the item represented by the selected-non fungibletoken to the other user.
 15. The method of claim 13, whereintransferring the selected-non fungible token transfers ownership rightsto the item represented by the selected-non fungible token to the otheruser.
 16. The method of claim 1, wherein the selected token isreplenishable and represents a fungible item.
 17. The method of claim 1,wherein the selected non-fungible token is non-replenishable andcorresponds to a non-fungible item.
 18. The method of claim 1, whereinthe crafting recipe designates two or more tiers of non-fungible tokensthat may be awarded to the user.
 19. The method of claim 18, wherein thetwo or more tiers of non-fungible tokens include replenishablenon-fungible tokens and non-replenishable non-fungible tokens.
 20. Themethod of claim 18, wherein the crafting recipe further defines aprobability of each tier being selected.